This month, residents who live within the Olathe School District boundaries received a letter in the mail that details the district’s intent to exceed the revenue neutral rate. This means that the Board of Education is expected to approve a budget that is estimated at 64.927 mills, which is above the revenue neutral rate of 62.464 mills. This rate is still below last year’s mill rate of 68.282 mills.
The Olathe Board of Education is holding a special meeting on Wednesday, Aug. 31. At 5 p.m., there will be a hearing on the revenue neutral rate. At 5:15 p.m., there will be a hearing on the budget for the 2023 fiscal year.
The main reason for the need to exceed the revenue neutral rate is due to the state requirement for all school districts in the state to have a general fund mill rate of 20.000 mills. The revenue neutral rate for the general fund at 18.806 mills, but school districts are required by state statue to set their mill rate for this fund at 20 mills. Additionally, due to increasing costs in the area of capital items, the district is levying the full 8.000 mills allowed by statute for the capital outlay fund, while the revenue neutral rate is 7.237 mills.
Overall, the Olathe Public Schools mill rate for fiscal year 2023 is lower than the fiscal year 2022 mill rate.
Original source can be found here.
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