Budget Update

posted May 29, 2015, 9:47 AM by Jeanette Godfrey

The Sherwood School District Budget Committee met for its first meeting on May 5, 2015, to hear the Superintendent’s Budget Message and receive the budget proposal prepared by District administration.  In order to further deliberate and consider additional data requested of the District, the Budget Committee held its second meeting on Thursday, May 14.  The State of Oregon released its May Economic and Revenue Forecast on the same day.  The Budget Committee heard that the May Forecast contained $264 million more in statewide revenue than the previous forecast.  Forty percent (40%), or approximately $105 million, is expected to provide additional funding for K-12 education in Oregon.  The Budget Committee approved the proposed budget, which contained - in addition to the certified and classified staffing to provide full-day kindergarten - 2 additional certified and 1 additional classified staff member, significant investments in curriculum, and enhancements and support for teaching and learning.  The potential revenue as a result of the May Forecast means the District does not expect to draw down reserves in the 2015-16 school year.  The Board of Directors will be asked to approve the Sherwood School District’s proposed 2015-16 budget at its regular monthly Board meeting on June 3, 2015.  Public hearing for the budget will occur prior to the Board’s action.