Black Hills Knowledge Netowork

Rumors are stirring about a repeal of the 1/2 cent sales tax that made teacher raises possible this year, which could make it necessary to use reserve funds for teacher pay. The School Board wants to make sure all financial decisions this year are sustainable, regardless of political changes.
Rumors are stirring about a repeal of the 1/2 cent sales tax that made teacher raises possible this year, which could make it necessary to use reserve funds for teacher pay.  The School Board wants to make sure all financial decisions this year are sustainable, regardless of political changes.
August 5, 2016

Rapid City School Board Reluctant To Use Reserve Funds

Although the 2015-2016 school year ended with nearly $72.6 million in reserves, the Rapid City School Board is cautious about using those reserve funds, reports the Rapid City Journal.

About $57 million of those reserves have very specific uses, and cannot be used for projects outside those designated uses.  The general fund, which can be more flexible, has around $15 million in reserve, an excess of 16.5% of what is budgeted for the 2016-2017 school year.  In 2009, the citizen finance committee recommended that 12% is ideal.  Last year's priority was "people over paint" but with a new Superintendent and two new school board members, the board could see a change in direction.  Appropriate uses for the reserve funds will be decided through school board and public meetings over the next school year.

For more information on education in Rapid City, please visit the Black Hills Knowledge Network news archive.

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