HSE Schools outlines referendum proposal, shares financial update

Submitted by HSE Schools

Hamilton Southeastern (HSE) Schools shared an early proposal Wednesday night for a possible operating referendum renewal, citing continued financial pressure from rising costs and recent changes to Indiana property tax law.

The proposal, presented to the Board of School Trustees by Chief Financial Officer Tim Brown, included a maximum referendum rate of $0.36 per $100 of assessed value over an eight-year term. Brown emphasized that, under state referendum rules, HSE must ask voters for the highest rate it may need during the full eight-year term, but that does not mean the district would ever collect the full amount. HSE would expect to use a lower rate in the early years and gradually increase the rate to meet future financial needs.

The Board is expected to vote on a proposed maximum referendum rate and levy at its June 10 meeting. If approved, in November, voters will decide whether to continue funding academic programming through teacher retention as well as essential school safety and behavioral health supports for students.

Over the last two years, HSE Schools has already taken several steps to reduce expenses, with the work shared to date representing more than $7 million in potential ongoing reductions. Those savings come from staffing changes tied to enrollment, department and operational efficiencies, salary hold decisions, contract reviews and expanded partnerships.

Kegley

“These steps were important before asking the Board to consider an early referendum renewal,” Superintendent Dr. Matt Kegley said. “Even with these cost-cutting measures, the projected loss in expected revenue due to Senate Enrolled Act 1 would make it difficult for HSE Schools to maintain the level of programming, staffing and student support our community expects.”

The district also launched a new finance webpage to make school finance information easier to find and understand. The page, which is updated regularly, includes information about school funding, revenue sources, legislative updates, frequently asked questions, and monthly financial reports.

The webpage is available at hseschools.org/finances.