BOE Budget Done
|With the 2015-2016 county budget getting close to complete, the
budget committee took another big step Monday night to that end.
The budget committee voted to approve the school boards proposed expenditure budget but also voted to give the BOE the same number of tax pennies this year as last year. What this really means is the budget committee is not recommending any property tax increase this year.
Even though the pennies going to the BOE will be the same, the projected value of the penny has increased to the point that the BOE will see around a quarter of a million dollars in increased revenues. On top of that the state has already reported that they will be providing an additional $428,000.00 in funding this year. That's around $670,000.00 in new funding with no tax increase. On top of that, the BOE has between six to seven million dollars in their fund balance.
The school board will now have to look closely at there budget and prioritize their spending or take the 2.1 million they were wanting from their fund balance. That's their decision.
The budget committee's recommendation on the BOE's budget as well as the rest of the county budget will go to the full commission for a vote later next month.