The Princeton School Board has followed a recommendation from the state to reclassify some of its revenue to save the taxpayers money, according to district officials.
On Aug. 19, with backing from Superintendent Julia Espe and District Director of Business Services Michelle Czech, the board rescinded last year’s resolution authorizing the $152.50 portion of its revenue per student and authorized the “entire $300 as a board-approved operating referendum.”
The $300 total is arrived at by adding the $152.50 board-approved operating referendum revenue with the $147.50 in voter-approved operating referendum revenue. Czech also mentioned the $212 in location equity revenue, which, when added to the $300, totals the $512 total revenue the district gets per student.
The district’s handout on the subject states that the rationale for the board action is to receive what is called the first-tier equalization rate on the entire $300. If the board would have left the split between voter-approved and board-approved revenue, the “voter-approved referendum becomes part of the location equity revenue calculation, which is equalized at the second tier.”
Equalization refers to revenue from the state, and judging by the school board action, first tier equalization is preferable to second tier.
Sound confusing? Check out some websites on state funding and you are bound to run across a statement where the write up on the regulations acknowledges that it’s “messy.”
Czech said after the board meeting that the board will be making some other revenue-related change in November.