GCR-2 budget to reflect dollar value modifier funds starting this month

By Roxie Murphy, Editor

The Gasconade County R-2 School District will begin receiving funds from the Dollar Value Modifier (DVM) formula – legislation that allows them to receive additional funds based on the dollar value of Franklin County since the school district has campuses in both counties — in October.

Superintendent Dr. Jeri Kay Hardy mentioned at the September 19 meeting that the raise was to start being paid in October.

“October should be the month we start getting our payments from the state with the new DVM on it,” Hardy said.

Board Chairman Glenn Ely addressed the group saying that as part of their quarterly budget update they would be looking at the future of funding with a dollar value modifier and the silver District COVID.

“We want to create continuity and growth and be good stewards of governance and how our budgets enable us to create success,” Ely said.

Ely said he wanted to make sure everyone was comfortable over the years and with the first interaction with the DVM update.

Hardy added that she would present something at the board retreat scheduled for Oct. 10 to explain what the budget would look like with the new DVM in a three-year projection. The retreat will take place at White Mule Winery. A meal is scheduled for 5:30 p.m. and their meeting is at 6 p.m.

“Then in March we’ll refine that even more once we’ve had a few months on this cycle, that way you can see it stretched out and what it’s going to look like over the next few years,” Hardy said.

The district was authorized by state legislation approved in the spring to use the superior formula. They are expected to receive an additional $1 million in new revenue each year.

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