$23M budget wins approval
A 2006-2007 budget requesting less local property taxes thanlast year was officially approved by the Lincoln County SchoolBoard Wednesday.
Cheryl Shelby, the district business manager, recommended theboard approve the budget as it was presented during a publichearing June 5.
“There were no changes since the public hearing. I never heardfrom anyone,” she said.
The $23 million 2006-2007 budget includes $220,630 to pay off afinancial obligation on a 1997 bond issue.
Additional savings will come from a move by the district todissolve the vocational partnership with the Brookhaven SchoolDistrict. The county district typically pays the city district$164,000 per year to use their advanced vocational facilities.
The county will continue to offer some basic vocational classeson its four campuses, said Superintendent Terry Brister.
The slightly more than $23 million 2006-2007 budget includesapproximately $3 million in local money, nearly $13 million fromthe state and nearly $7 million in federal and other monies.
The largest chunk of the budget, $12.6 million is for salariesand fringe benefits, Shelby said. More than $1 million has beenearmarked for new property.
In a separate matter, the board approved a change in insurancecompanies that will save the district approximately $80,000annually without impacting its coverage.
“The coverage is the same, if not better,” Brister said. “We’vehad the lawyer compare the two policies and this one is the same asthe old one in every area and slightly better in some.”
The property and liability insurance policy offered by Insuranceand Risk Managers at $124,975 was approved. The previous policycost the district $208,120 annually.