LCR3 approves 2022-23 budget

In addition to talking about the progress of the upcoming Troy South Elementary School project, which has a planned Sept. 29 groundbreaking, the board members discussed the budget for the next fiscal year.

Chief Financial Officer Dr. Jeff Levy showed the board the breakdown of the district’s operating budget throughout the three counties R-III represents: Lincoln, Warren and Montgomery, and the tax revenue gained in those areas throughout the last year, as well as expenditures.

In fiscal year 2021, 46% of the district’s expenditures went to salaries, according to Levy, by far the largest amount. Fourteen percent went to employee benefits, and another 14% went to new construction.

The new budget anticipates about the same, with more new hires coming to the district, as well much more new construction on the horizon.

Levy said he does expect new growth in the district over the next year, however, those numbers are difficult to ascertain, for 2022 is a tax assessment year.

“There’s no way we can determine until late July or August from the tax assessor the real numbers,” he said. 

The board unanimously approved the 2022-23 fiscal year budget. Board members Doyle Justus and Dale McDonald were not present at the meeting.