The board will decide whether to run either a 1% or 1.25% traditional income tax, or a 1.25% or 1.5% earned income tax, which would affect fewer voters.
When to run the levy will also be decided. during recent school board meetings, the district administration has suggested putting the levy on the May ballot.
Without new revenue, the district will be operating with a negative negative cash balance by the 2028-2029 school year, Treasurer Kevin Hawley said.
In November, voters said no to a 1% income tax expected to generate about $6.4 million annually.
In May, a five-year, 6.301-mill property was defeated at the ballot. In both cases, the measures were defeated by about a 2-to-1 margin.
More potential cuts were among the items scheduled for discussion at the Jan. 26 meeting. They will be revisited on Feb. 2.
The district cut $1.2 million from its budget after the May levy failed, reducing busing to state minimums, increasing classroom sizes and participation fees, and eliminating all-day kindergarten.
About $3 million in programming and staffing cuts have been made over the past two years, while the district has been in Fiscal Precaution with the state.
The last time Franklin Schools passed a levy was 2013. At the time, school officials promised it would last at least eight years.
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