State aid plays an important role in RV budget

It’s budget season for school districts in Kansas, and during the Royal Valley Board of Education meeting on Monday evening, Superintendent Aaric Davis explained the role of state aid in the USD 337 budget.

“Because we are a low assessed valuation district, we receive more state aid than most districts,” Davis said. 

During the 2023-2024 school year, local taxpayers paid 20 mills for the district’s general fund, which is required by state law. In the Royal Valley district, this generated $678,883. 

“However, the state school finance formula is equalized, therefore our district received an additional $7,156,131 in state aid for the general fund. This makes us a 91.34 percent state aid district for the general fund,” he said.

To fund last year’s budget, local taxpayers paid 17.247 mills for the district’s Local Option Budget (LOB). 

“This raised $803,422. However, since the state school finance formula is equalized, our district received $1,171,649 in state aid for the LOB fund. This makes us a 68.80 percent state aid district for the LOB fund,” he said.

Local taxpayers also paid eight mills for the district’s capital outlay budget, which generated $338,544. The district received an additional $260,679 in state equalization aid.

“This makes us a 43.50 percent state aid district for the capital outlay fund,” he said.

In total, the district levied $1,820,849 in local taxes but raised $11,009,308 in funds for the district with the state aid figured in, he said. 

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