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O'Neill School Board To Hold Special Hearing To Amend Budget

May 12, 2011 Updated Feb 7, 2022

The O'Neill School Board will hold a special hearing to amend their 2010-2011 budget on Monday, May 16, 2011, at 7:15 p.m.; the hearing notice is included in the issue of the Independent. Legislation dealing with school aid and school budgets has been debated and advanced during this session. LB 235 was passed on final reading on April 20 and signed into law by Governor Heineman on April 26. LB 235 impacts both the revenue and the disbursement sides of school budgets. The revenue side is governed by valuations, levies, taxes and state aid. The expenditure side is also governed by the state, whereby they set the school's budget authority. The new state aid law imposes limits on future budget flexibility and could impact the ability of the school in meeting the needs of its students. By amending the 2010-2011 school budget we will be decreasing our cash reserves and increasing disbursements, in order to provide for necessary future budget flexibility and the financial stability of the district. This amendment creates no change in the tax levy for the district nor will it increase taxes in any way. The hearing on the budget amendment will take place immediately before the regularly scheduled May board meeting and is open to the public.

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