Retirement incentive packages may be offered to eligible Independent School District 361 staff in an effort to address the district’s struggling financial situation.

During a special meeting of the Falls School Board Tuesday, Superintendent Nordy Nelson said the incentive packages, should the board choose to go that route, would be a way for the district to offset the more than $480,000 the district will lose in state funding with the loss of about 66 students since last spring.

“It will cost some money at first...but the long term has some saving there,” he said of the proposal.

Nelson gave no details Tuesday as to what would be involved in the packages, however, he said he has had experience with retirement incentives in other school districts in which he’s worked. Packages would be presented by union presidents to their respective members.

Tuesday’s session was the second of its kind for the board to begin the process of considering areas to which cost adjustments can be made. The superintendent told board members in a statement that the district is no longer in an arrangement where fund balances will grow. The present district offerings and activities cannot be sustained and still keep revenues over expenditures.

Last month, Nelson provided board members with a list he said he generated himself, which highlight options for the board to consider that could save the district about $717,800. The superintendent stressed items on the list, including staff reductions and eliminating two non-revenue athletic teams, were only options and didn’t need to happen all at once. Still, the cuts would enable the district to avoid dipping into its about $3.8 million in reserve funds.

Another option in raising revenues, Nelson said, is asking local voters next November to increase the district’s operating levy to an additional $300,000 over what the district currently has.

“That’s a possibility if the board wants to entertain that and ask for additional funds to offset some cost adjustments,” Nelson said.

On the same note, the superintendent reminded board members that option isn’t a for-sure deal. “There’s no guarantee it would pass.”