Trustees of Johnson County Unified School District 233 were told last week that they face a shortfall of $8 million in fiscal 2010.

The gap is being caused by several factors, including a redirection of some county sales tax revenues from schools to public safety that was approved by voters in August. The school district had received about $5.4 million a year from the sales tax.

The district serves the city of Olathe.

Gary Deiner, director of business and finance for the district, said the loss of the sales tax revenue, a decline in enrollment, and an increase in base state aid per pupil of only 1.3% are the key reasons for the projected shortfall.

The preliminary budget for fiscal 2010 totals $242 million, up from $231 million in fiscal 2009. Property tax revenue account for almost 95% of the budget.

The district’s bonds are rated Aa3 by Moody’s Investors Service and AA-minus by Standard & Poor’s.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.