Impact on fiscal year 2013
In June, the (school) board adopted a budget of $97 million with expected revenues totaling $94 million, leaving a $3 million gap to be closed using reserve funds. Some of the additional factors that had an impact on the current budget include:
• Revenue lost to 100 percent freeport exemption, $3 million.
• Higher insurance for classified staff, $1 million more.
• Higher insurance for certified staff, $2 million more.
• Increasing retirement contributions, $1 million.
• State-mandated salary increases, $800,000.
This year also introduces a community-supported literacy initiative to help all students read on grade level by third grade. The initiative will incur startup costs of approximately $800,000.
Last year, the millage rate of 14.756 mills generated approximately $24.2 million. The millage rate of 18.756 mills adopted (Friday) should generate approximately $28 million in local revenue to help offset lost revenue and increasing costs.
The Board of Education appreciates all of the feedback provided by citizens during the hearings and outside the boardroom.
Source: Whitfield County Schools website