School District Eyes $6.3 Million Budget
School Superintendent Steve Long presented his proposed 2004-2005 budget at the GCISD board meeting Aug. 9. Using a tax rate of $1.42 per $100 valuation for budget calculations, Long projected total revenues of approximately $6,366,907 and estimated expenditures of $6,330,758. Local funds in excess of $6 million account for 94 percent of the $6.3 million budget, with federal dollars ($182,000) providing 3 percent and state monies ($172,000) kicking in only 2.5 percent.
Long said the tax rate will likely be set in the range of $1.36 to $1.42 per $100 valuation, lower than the current maximum rate of $1.50, since the county’s valuations are up almost $6 million this year. The school board will set the new tax rate on Aug. 30 at 7 p.m. after a public hearing at 6 p.m.
Robin Hood Takes a Toll
The school district will send $2.8 million, more than 45 percent of the total budget, to other schools in WADA payments, as required by the state’s “Robin Hood Plan” of school wealth redistribution. Other items in the proposed budget, which individually account for more than one percent of the total, are: Instruction (teachers salaries and benefits) $1.9 million (31%); Principals (including office staff, benefits, etc.) $196,000 (3%); Transportation $264,000 (4%); Extra-curricular $139,000 (2%); Superintendent’s office, including benefits, office staff, etc.) $277,000 (4%); Maintenance $519,000 (7.5%) and Construction $100,000 (1.45%).
The district had reserves of $3 million at the end of the 2003-2004 fiscal year. Long said he doesn’t yet have the reserve figure for the current year.