The New Ulm District 88 School Board on Thursday gave it’s final approval to the district’s property tax levy for next year. The nearly $5-million levy is only a .65% increase over this year’s levy. The school board also adopted a revised budget for the current school year on Thursday due to a $50 per-pupil increase in state funds and greater than expected student enrollment. The district’s revenue for the school year increased by nearly $489,000 as a result, meaning the budget deficit was reduced to just over $230,000. The board approved an early retirement incentive for teachers on Thursday as well. The money-saving measure has been successful in the past, with the district saving about $25,000 for every teacher that takes early retirement. About 25 teachers are eligible this school year, and have until February 17th to accept the district’s offer.