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 Franklin County’s dollar value since the school district has campuses in both counties — in October.

Superintendent Dr. Jeri Kay Hardy mentioned at the Sept. 19 meeting that the increase was expected to begin paying out in October.

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

Board President Glenn Ely addressed the group saying, as part of their quarterly budget update, they would examine the future of funding with dollar value modifier and district COVID money.

“We want to create continuity and growth and being good stewards in governance and around the way our budgets allow us to create success,” said Ely.

Ely said he wanted to make sure everyone was comfortable as they moved through the years and with the first interaction with the DVM update.

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

“Then in March we will refine that even closer once we’ve had a couple months on that cycle, that way you can see it drawn out and what it will look like over the next few years,” Hardy said. 

The district was authorized through state legislation approved in the spring to use the higher formula. They are expected to receive an additional $1 million in new revenue annually.