POSTED: Wednesday, August 29, 2012 - 7:38pm
UPDATED: Wednesday, August 29, 2012 - 7:44pm
Kilgore school trustees adopted a $33.2 million budget Monday that will be balanced by pulling $766,000 from the district’s reserve account.
The board also approved a tax rate just below $1.31 per $100 property value, unchanged from this past year’s levy. The rate will bring in about the same amount of money thanks to divergent property values in the school district’s two counties.
“Rusk County actually bailed us out,” Assistant Superintendent of Finance Revard Pfeffer said Tuesday. “We’re down a little bit in Gregg County, but we’re up a little bit in Rusk County. It’s going to bring in approximately the same amount.”
The state’s contribution to the district, however, is projected to fall about $800,000 for a Kilgore student population expected to reach 3,800 by next week.
That’s roughly equal to the budget’s deficit, which the district will make up from reserve funds expected to be $9.2 million by the end of this fiscal year on Friday.
No one spoke during a public hearing on the budget and tax rate, Pfeffer reported.
The spending plan does not include employee raises, but it does have a one-time stipend of up to $800, depending on employees’ weekly hour load.
To read more visit the Longview News-Journal.