Madison School Board Approves 2023-24 Budget

The Madison Central School Board held a hearing on and approved its proposed budget for the upcoming year during its monthly meeting this week.  The school district’s total proposed budget for the 2023-2024 year is just under eighteen-point-two million dollars.

The general fund is the largest fund within the school district’s budget, and that is at close to ten-point-three-million dollars for the next year.  The district’s capital outlay fund is the next highest at close to two-point-nine-million dollars.  The other funds within the school district’s budget are the Special Education, Bond Redemption, Food Service, and Driver’s Education funds, along with the Health Insurance Fund.  

As a part of adopting their annual budget resolution, school board members on Monday also approved the annual budget levy requests for the school district.  The levy requests are set for General Fund agricultural property, owner occupied property, and other non-agricultural property, along with the special education fund.  The levy requests are based on dollars per thousand dollars of taxable valuation.  The levy request for the capital outlay fund is at close to two-point-nine million dollars, the bond redemption fund is at 476-thousand dollars, and the district’s opt-out is one-hundred thousand dollars.