LPS proposes $25 million spending increase in 2024-25 budget

LINCOLN, Neb. (KLKN) — Lincoln Public Schools plans to spend $25.5 million more next fiscal year.

The district released its proposed budget for 2024-25 on Tuesday.

It would raise spending by 4.96%, to $539.16 million.

The bulk of that new spending, about $18.6 million, is going toward a 4.55% increase in pay and benefits for teachers.

The school board already approved that pay bump in February.

To pay for the bigger budget, LPS would increase the property tax levy by 2.7 per $100 of valuation.

That means if you own a home worth $281,000 — the median home value in Lincoln, according to Zillow — you would pay $75 more a year.

The district is also getting $32 million less in state aid this year.

“They’ll claim that they’re being good stewards when they’re really just cutting us year to year,” said Bob Rauner, the board president. “If their funding kept pace with inflation, we could have cut our levy by 31 cents by now.”

You can submit comments or questions about the budget online until July 12.

The district is also holding three public forums:

• Noon Wednesday: Virtual forum at lps.org/budget
• 6 p.m. Wednesday: In-person forum at the Steve Joel District Leadership Center
• 6 p.m. Thursday: Virtual forum on at lps.org/budget