Highlights of the 9/25 Lincoln Board of Education and ESU 18 public hearings
The Lincoln Board of Education and the Educational Service Unit 18 met for its annual public hearings on budget and tax requests on Monday, Sept. 25, at the Lincoln Public Schools Steve Joel District Leadership Center, 5905 O Street.
Each year, public hearings are conducted under the provisions of the Nebraska Budget Act and other Nebraska laws. The purpose of the hearings is to receive input regarding the proposed budget for Lincoln Public Schools and ESU 18 for the 2023-24 school fiscal year. The input received in this hearing will be taken into consideration by the Board when it takes action on the proposed budget.
There were 11 individuals that addressed the Board during the public hearings.
LPS prudently builds the annual budget using a three-year forecast to minimize the negative impact of drastic swings in revenue. By utilizing cash flow, LPS is able to weather volatile shifts in revenue caused by large reductions in State Equalization Aid a year after the school district may receive a bump in local property assessment values the previous year.
During the 2023-2024 budget process, the Board will consider a 14 cent drop in the total levy to $1.07 per 100 of valuation.
The 2023-2024 preliminary proposed budget is approximately $514 million, representing a 4.8% increase from 2022-2023. Staff salaries and benefits make up almost 90% of the total budget, and negotiated agreements led to a 3.65% increase in the budget.
More information can be found on our website: lps.org/budget.
Published: September 25, 2023, Updated: September 25, 2023