Finance & Business
Finance & Business
The Finance and Business Department oversees the total expenditure budget for the school district. This includes total operating budgets, other special revenue funds, debt and capital funds. The district staff and Board of Education take seriously the responsibility of using tax dollars efficiently and in a way that best benefits the classroom learning experience. The school district is independently audited each fiscal year to ensure compliance with financial regulations and expectations.
Overview of 2025-26 Budget
Accountability
Kansas schools are audited annually through an independent audit process and by the Kansas State Department of Education. School districts are subject to audits by the Kansas Legislative Post Audit. Financial & Performance Accountability Reports prepared by the Kansas State Department of Education.
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News & Information
Budget for 2025-26
Updated September 8, 2025
The USD 232 Board of Education on Monday, September 8, 2025, approved the 2025-26 budget, setting the tax rate at about 61 mills — among the lowest in more than 30 years. This reflects smart planning, alignment with our TORCH strategic plan, and the hard work of our staff who make it possible. Together, we’re ensuring resources support student success now and in the future.
Posted August 10, 2025
The USD 232 Board of Education at its regularly scheduled meeting on Monday, August 4, approved publication and notices of hearings regarding the proposed budget for the 2025-26 school year. The proposed budget keeps the district’s mill levy (tax rate) on a downward trajectory. The graphic below shows a decrease in the tax rate of approximately 23 mills since 2010.
If the budget is approved next month, it will continue to represent among the lowest mill levies (tax rates) for the school district since at least 1993. The proposed budget calls for a total of mill levy (tax rate) of approximately 61 mills.
The public hearing on the proposed budget is set for September 8, at 5:55 p.m., at the Board of Education, located in De Soto (35200 W. 91st Street).
Revenue Neutral Rate
Explanation -- In general, “revenue neutral” means a taxing jurisdiction plans to collect the same total amount of property tax revenue in the upcoming budget year as it did in the current year. For example, if a school district collects $1 million in property taxes in 2025, being revenue neutral means, it would also plan to collect exactly $1 million in 2026.
In USD 232—and in school finance—this concept is far more complex:
- Impact of Property Values on State Funding: As the district’s property value per student increases rapidly, state funding decreases. This reduction means additional local revenue is often needed just to offset the loss of state equalization funds.
- Inclusion of All Assessed Property: The revenue-neutral rate is calculated using the value of all assessed property, including tax-exempt properties. In USD 232, over 20% of property taxes are abated (tax-exempt), which artificially inflates the revenue-neutral rate, as in most cases, the district does not receive property taxes for those entities that are abated.
The Board is required to hold a public hearing regarding the revenue neutral rate, scheduled for September 8, at 5:50 p.m., at the Board of Education, located in De Soto (35200 W. 91st Street).
All properties of Johnson County residents are included in a number of taxing subdivisions. Recent changes in state law require the county to mail an estimated tax notice on behalf of a subdivision that plans to exceed the revenue-neutral rate. The notice also serves as notification for a public hearing required to take place by a subdivision that plans to exceed the revenue neutral rate.
In August, Johnson County Government will mail all Johnson County residents a single estimated tax notice on behalf of taxing subdivisions. The form will include data on specific property values and taxes as well as dates, times and locations of upcoming public hearings.
Learn more about this topic and see a template of the estimated tax notice at jocogov.org/EstimatedTaxNotice.
View a budget presentation prepared by Dr. Cory Gibson, Proud Superintendent of Schools.
Costs and Inflation
The Board of Education, working with administration, ensures funds are used efficiently. Because of inflation and other factors, certain costs are expected to increase during the 2025-26 school year. Examples of increases are:
- Worker’s Comp
- Property/Liability
- Health Insurance
- Salaries and Benefits
- Transportation
- Utilities
The district budgets more than expected to avoid budget republications. Publishing a higher amount gives the district the authority to cover unexpected emergency expenses. As an example....
Maximum Budgeted to Actual Expenditures, Including All Funds in 2024-2025
2024-25 Budgeted vs. Expended = -$21,482,608 (-15.7%)
Early Bond Debt Payoff
Thanks to strong fiscal management by the Board of Education and administration, the district paid off a portion of the 2008 bond ahead of schedule in 2023. Under the proposed budget, the district plans to retire the remaining $12,280,000 of the 2008 bond using existing reserves in the bond fund.
This early repayment—nearly six (6) years ahead of schedule—will save taxpayers approximately $1,088,088 in interest costs. In addition, the state will contribute 6% in bond aid (approximately $736,800), funding that is unlikely to be available in the next fiscal year.
TOTAL SAVINGS: $1,824,888
2008 Bond Included the Following Projects
1. Construction of Belmont Elementary School
2. Expansion of Mill Valley High School (including a new weight room, auxiliary gym, additional classrooms, student services, cafeteria, and support programs for students with disabilities)
3. Expansion of De Soto High School (featuring fine arts facilities, physical education spaces, student services, a media center, and additional classrooms, etc.)