The Oswego School District 308 Board of Education will discuss but not take any final action on a list of proposed budget cuts and fee hike hikes during their next meeting at 7:15 p.m. Monday, March 18 in the Oswego East High School Community Room.
The proposed cuts and fee hikes could potentially be implemented by the board in the event voters reject the district's April 2 operating fund referendum.
According to OSD 308 Director of Communications and Public Relations Theresa Komitas, the board's goal for the meeting is to agree on $3.4 million in cuts for the next fiscal year, which could be done through "a combination of cutting expenses, capturing savings, and additional revenue sources."
Komitas added, "The items visited on Monday will be things considered within the past year, not going back any further, since items from past (cut) lists have either been completed, or a similar or alternative item was adopted in its place."
The board has approved more than $14.4 million in program and personnel cuts and fee hikes since 2016, and has also approved $1.16 million in roll backs to previously passed cuts and fee hikes that would take effect if the referendum passes.
The referendum, placed on the ballot by the board to offset a projected multi-million-dollar deficit, would increase the tax levy rate for the district’s operating fund by 30 cents for every $100 of equalized assessed valuation and generate an additional $5.6 million to $5.7 million in new revenue for the district.
According to estimates provided by the district, the referendum would cost the owner of a home valued at $200,000 an additional $182 annually, while the owner of a home valued at $250,000 would pay an extra $232. The tax bill for a $300,000 home would increase by $282. The district has created a calculator for homeowners to determine the exact amount of their increase that can be found on the district’s website.
The OSD 308 Board will meet on Monday, March 18, at 7:15 p.m. in the Oswego East High School Community Room.