The Columbia Public School Board looked at a proposed operating budget Wednesday night that projects spending around $11.7 million above expected revenue next year.
During a public hearing on Wednesday, Columbia Public Schools Chief Financial Officer Heather McArthur presented a nearly $390.7 million spending plan for the 2026-27 fiscal year.
Columbia Public Schools will have to dip into reserves to cover the rising costs, amid hesitation around state funding.
This year, the state legislature did not fully meet the demands of the foundation formula, which is a calculation the state uses to determine recommended school funding.
“Any loss of revenue or any loss of income is going to hurt,” John Lyman, President of the Columbia Public School Board, said. “We have to start figuring out how to thin out the money that we are spending and make sure those cuts don’t impact our students' classroom experience.”
McArthur emphasized that a key part of this year's budget is funding medical, dental and life insurance for full-time employees to help retain current staff members and attract new ones.
“As we go forward we want to make sure we have enough funds to put into employees for recruitment and retention,” McArthur said. “Our people are our most valuable asset.”
The Board of Education is expected to hold a public hearing to consider final approval of the budget after this month, ahead of the next fiscal year.
