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Hannibal schools announce budget shortfall

Hannibal schools announce budget shortfall

1 month, 1 week ago by Scott Hardy

Board says they'll freeze hiring in wake of $3.3 million shortfall

The Hannibal Public School District says they are over $3 million short in their budget for their upcoming school year, and say it's likely there will be staff cuts.

In a statement Thursday, the Hannibal board revealed the $3.3 million budget shortfall, blaming it on lower revenue and higher-than-expected spending in the preliminary budget, which was presented in July for this school year. The district says that they're falling short in revenue due to lower enrollment, a loss of one-time federal ESSR funds, more student absences, and lower assessed valuation and lower tax revenue. The higher spending is due to more needed staffing to address learning loss after the pandemic, more expensive capital projects and higher salaries. The Hannibal Board says they will reduce the number of staff through attrition caused by resignation and retirements, and by freezing hiring. They'll also closely watch spending for the remainder of this year.

The Board says that they will re-examine their practice of rolling back the maximum operation tax levy, which the Board has done for several years. The Board also says that there could be more money coming from the state of Missouri, due to changes in the state's basic funding formula.

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