Chief Financial Officer Shane Rhian presented the 2024-25 proposed general fund budget and ESU19 budget to the Board of Education. The proposed budget focuses resources on key initiatives in the Strategic Plan of Action, investing in the future of our students and staff salaries and benefits.
Revenue and expenses for the general fund are both budgeted at $812 million for the 2024-25 school year. That is an increase of 11.69% from last year. All general fund budget increases are going to staff salaries and benefits. This includes updated negotiated agreements with all bargaining units that shifted stipend amounts into base pay scales, additional pay for special education teachers and paraprofessionals and additional compensation for teachers with advanced degrees. Benefits and salaries make up 76% of the budgeted expenses.
The total proposed property tax levy is $1.10793, a decrease of 10.9 cents for 2024-25.
A breakdown of the general fund budget is as follows:
General Fund Revenues:
- Property Taxes: $307.3 million
- Other Local Receipts (motor vehicle taxes, interest on investments, court fees, fines, licenses, etc.): $52.5 million
- Other State Receipts: $75.1 million
- State Aid: $316.7 million
- General Fund Reserves $60.4 million
General Fund Expenditures:
- Salaries and Benefits: $617.3 million
- Contracted or Purchased Services: $112.5 million
- Supplies and Materials: $27.8 million
- Equipment and Other Costs: $14.7 million
- Actuarial Required Contribution (ARC) for Omaha School Employees' Retirement System (OSERS): $39.6 million
The budgeted Omaha School Employees' Retirement System ARC is based on an actuarial study completed in January each year. Thirty-nine point six million dollars ($39.6) is included in the 2024-25 budget for next year’s ARC payment.
The proposed budget includes a Board of Education override of the LB243 revenue cap.
A proposed budget was also shared for Educational Service Unit (ESU) No. 19. Revenues and expenses are budgeted at $29.6 million, a $6.2 million increase from the previous year. The ESU provides core services to our district that include staff professional development, printing and publication services, technology and technology support.
View the Omaha Public Schools budget at a glance.
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