CHERRY TWP — Residents in the Moniteau School District will not see their property taxes increase in the upcoming school year.

The district’s school board passed the budget for the 2022-23 school year Monday. It has an operating cost of $24.4 million and expected revenues to match that cost. The 2021-22 budget had an operating cost of $22.6 million. The increase in the budget is balanced by the district’s fund balance.

The preliminary budget reviewed by the school board at a May meeting included a millage increase of 1.99 mills for property owners in the district, but district superintendent Aubrie Schnelle said administrators worked around some proposed costs.

“We had an unexpected retirement, which cut some cost,” she said during Monday’s meeting. “We removed a paving job that can wait that was going to cost a lot. We’re going to go with a used option for a truck we are going to buy.”

In expected revenues for the year, the budget estimates the district will receive about $5.4 million from current real estate taxes, which make up the majority of the estimated local revenue.

The main source of state funding comes from the basic education funding formula, which makes up $8.5 million. Other large state funding sources include about $2 million from the state share of retirement contributions, about $1.2 million from special education funds and about $1.5 million from the pupil transportation subsidy.

The district has a little over $1 million in American Rescue Plan money, which Schnelle said the district is earmarking for use before the money expires in 2024.

School board Vice President Joann Duke said she was happy that administrators worked around the preliminary tax increase.

“I would like to thank the administrators for working hard, trimming things down so that we are able to have no tax increase,” Duke said.

The board also voted 7-1 (with one board member abstaining) for a three-year collective bargaining agreement with the teaching association, Moniteau Education Association. Schnelle said the new contract includes a salary increase of 2.5% per year. Schnelle said 94 teachers are in the MEA.

School board President Michael Panza also praised the negotiation team for forming the contract.

“I thought everybody worked toward the same goal,” he said. “It’s going to bring some stability to the district for the next three years.”