PRC board adopts tentative budget
Published 6:48 pm Friday, June 29, 2007
The public meeting for discussion of the 2007-08 school year budget for the Pearl River Central school system held no surprises. The budget has been under discussion for several months. The estimated increase is 12.11 percent which equates to $3.63 million. That makes the total budget $20.675 million.
“One thing to note is we received $848,983 in federal funding that was applied towards salaries last year that we won’t receive for this year’s budget,” business manager Megan St. Clair said.
The revenue will come from property tax levy, $4.1 million; state aid, $14.112 million; tuition, approximately $50,000; fund balance $4.2 million; and investment interest $175,000.
Increase in expenditures will include salaries for additional staff, retirement benefits contribution increases, health insurance, contractual salary increases (3 percent across the board), fuel and utility costs, maintenance costs, and the three portable double classrooms at the lower elementary at a cost of $225,000.
Teaching schools make up the bulk of the budget at 60 percent of the budget and includes instructional programs, salaries, clerical services, equipment, and supplies. It is also where the bulk of the budget increase is: $1,580,041.
In descending order, the other increases are, transportation at $513,454; general support $508,469; benefits at $409,350; facilities at $210,000; and special education at $167,590.
The picture of the approximate cost to the tax payer breaks down like this:
• Average assessed property value, $100,000
• Assessed at 10 percent equals $10,000
• Divide by 1,000 (mil) equals $10
• Anticipated tax increase is 5.89 mills
• Anticipated per mil tax increase to tax payer is $58.90
• Total mills levied is 53.38
• Total anticipated school tax is $533.80
“The building fund has not been fully funded by MAP. The increase is just over $100 when the bond issue is added to this requested increase. That isn’t bad for a new school,” school superintendent Dennis Penton, said.
At the recess school board meeting, the board accepted the tentative budget for the fiscal year 2007-08.
In the superintendent’s report, the board elected to meet on Thursday, July 26 at 6:30 p.m. At that meeting, the board will review and hire the staffing replacements for the new year.