Hamilton Southeastern Schools will head into 2027 with a smaller budget after the Board of School Trustees approved a financial plan Wednesday night projected to be about $15 million lower than this year’s.

The adopted budget totals $325.9 million, with actual spending expected to reach $323.9 million, compared to $339 million in 2026. The district attributed the decrease to ongoing cost-cutting, including nearly $8 million in projected savings identified by its Budget Task Force, along with changes in revenue and debt obligations.

“We’ve spent a lot of time over the past year looking at where we can reduce costs and operate more efficiently,” Superintendent Matt Kegley said. “That work is making a difference. We know there are still financial challenges ahead, but we’re bringing forward a budget that is about $15 million lower than last year while keeping our focus on students and the classroom.”

The district still faces declining enrollment, rising health insurance costs and higher mandatory teacher retirement contributions.

The projected 2027 tax rate is $1.1912 per $100 of assessed valuation, up from $1.1476 in 2026.

The board also approved the capital projects, bus replacement and referendum spending plans. The budget includes a projected $31.3 million Referendum Fund spending plan, with funding contingent on the outcome of the district’s replacement operating referendum Nov. 3.

Land sale bids fall short

The district received 45 bids for 16.14 acres it owns at 136th Street and Prairie Baptist Road, but none met the price school officials were willing to accept.

Several bidders said they could not close on the purchase and complete the required due diligence on the district’s timeline.

Administrators said they will ask the board next month for approval to hire Metzger Property Services to find a buyer. Under that plan, offers would be accepted through November and December of this year, the buyer would make a down payment in early 2027, and the sale would close in late 2027.