Randolph School Board Adopts 2020-2021 District Budget

(Randolph) The Randolph School Board has adopted their 2020-2021 district budget. The tax levy of $3.1-million-dollars is an increase of roughly $324-thousand-dollars from last year. The mill rate of $12.40 per one-thousand-dollars of assessed value is an eight-cent drop from what homeowners saw a year ago. Director of Business Services Ryan Cashman says that decrease is $1.14 less than the projected mill rate was prior to the referendum voting in 2015. Cashman says the 2020-2021 fiscal year ended with the district maintaining a healthy fund balance of 46-percent. That fund balance is in addition to the Capital Project Fund that currently has a balance exceeding $700-thousand-dollars which can be utilized beginning in July of 2022. Next year’s budget is projected to be balanced with further contributions to the Capital Project Fund.