Randolph School Board Adopts 2022-2023 District Budget

(Randolph) The Randolph School Board has adopted their 2022-2023 district budget. The tax levy of $3.7-million-dollars is an increase of roughly $497-thousand-dollars from the current year.

The mill rate of $11.73 per thousand-dollars of assessed value is a 42-cent decrease from what homeowners saw in the 2021-2022 budget year. Director of Business Services Ryan Cashman says this decrease is $1.81 less than the projected mill rate of $13.54 that was stated prior to the referendum voting in 2015.

Cashman says the 2020-2021 fiscal year ended with the district maintaining a healthy fund balance of 44.9-percent. That fund balance is in addition to the Capital Project Fund that currently has a balance exceeding $1.2-million-dollars which is now being utilized to support the district.

Cashman adds that the budget is balanced with a contribution of just over $17-thousand-dollars to the Capital Project Fund.