CHEYENNE, Wyo. — Laramie County School District 1 is working with a budget of nearly $400 million for its upcoming school year.
On Monday night, the LCSD1 Board of Trustees approved the district’s proposed budget for the 2024–25 school year. The overall projected funding is locked in at $394.1 million. This grand total is about $51 million higher compared to last year’s budget, according to Jed Cicarelli, LCSD1 chief financial officer. Cicarelli presented budget highlights during Monday’s board meeting.
Budget breakdown
To begin his presentation on the upcoming budget, Cicarelli shared how the coming year’s $394.1 million is being divvied up across the district’s separate funds. The budget distribution is as follows:
- General fund: $245,088,527
- Special revenue funds (grants, maintenance, etc.): $45,763,320
- Capital projects funds (capital construction, special building): $87,435,727
- Enterprise funds (nutritional services, preschool tuition): $9,768,550
- Trust funds (health incentive, employee retention): $2,900,000
- Custodial funds: $3,150,000
Costs have increased for staff salaries, insurance, curricula and special education contract services. The district is paying around $9.7 million more on these expenditures compared to last year, according to Cicarelli. In addition, 14 new buses will be purchased for $2.7 million utilizing equipment reserve funds.
On the cost-cutting side, however, department budgets have been reduced by more than $2 million. The total funding for departments is $32,770,759.
The district is also planning to raise more $75 million in revenue through levies. The following is how the district will raise such funds:
- General fund: $57,934,945 via the 25-mill special district tax; $15,727,468 via the 6-mill county equalization tax
- Recreation board fund: $2,200,000 via the 1-mill recreation tax
A copy of the final budget can be viewed below.
