School Board OKs 2003-04 budget
The Lincoln County Board of Education approved the budget forfiscal year 2003-2004 during a special meeting Monday.
There was very little discussion on the budget and it wasapproved with no changes.
The budget was first presented to board members during a publichearing June 16. There were no citizens in attendance for thatmeeting.
The 2004 budget includes a slight increase of 0.12 mills inlocal ad valorem, or property, taxes.
That would raise the district’s total millage from 42.13 millsto 42.25 mills. For each mill of a tax levy, property owners pay $1on every $1,000 of assessed property that they own.
The biggest source of income, however, is from statesources.
The state contributes more than $10,600,000 of the district’stotal budget of $13,491,341. Local contributions from property tax,interest, tuition and other sources add nearly $2,700,000 to thebudget.
The district is well prepared for expected budget cuts from thestate, school district officials said.
“Last year, we prepared for a 5 percent cut and we did not getcut. We’re keeping that unbudgeted this year in case we get cutlater,” explained Superintendent Perry Miller.
The next meeting of the school board is at 5:30 p.m. July 7 atthe Central Office.