The Rapid City Area School District budget for 2014-2015 school year is $149,821,755. This does not include the Western Dakota Technical Institute budget of $25,818,524, unsupported by local taxes. According to the Rapid City Journal each year, the RCAS budget is divided in six principle accounting funds; General, Capital outlay, Special education, Food service, Pension, Health insurance.
The General fund is primarily used for staff compensation. The Capital Outlay is used for building and operational costs. Federal revenue primarily supports the food service budget. The Pension is designated property tax levy used to support its retirement and severance packages. For Health Insurance, the school district is self-insured, but carries supplemental insurance for high cost procedures.