Knoxville School District Closing Deficit Gap Due to Tax Levy Increase

The Knoxville School District is slowly but surely reducing its deficit in regard to the 2014-2015 fiscal year budget. School board members approved an amendment of a that budget last night, which is now projected to carry a tentative deficit of just over $258,000. The number is down almost $28,000 from the projected $286,000 that Superintendent Steve Wilder expected in September of 2014.

According to budget notes, the district is receiving more revenue than expected due to a minor increase in a tax levy which was decided this past November. The final tax rate for property in the district is approximately $4.56–one cent higher than last year and less than the anticipated $4.61.

Wilder outlines in his report, that the district is expecting about a third of the annual revenue within the next six weeks as well.

The district has reportedly completed the majority of its purchasing at this point in the year, so reducing the deficit even further will mostly depend on the revenue that comes in. Wilder says at this point, revenues have been steady.