July 1, 2014 10:16:51 AM
The Lowndes County School Board held a specially called meeting Monday night and unanimously approved a proposed budget, which projects nearly $52 million in revenue for the district for the 2014-2015 school year. Board members Jacqueline Gray and Brian Barksdale were absent from the meeting.
According to the proposed budget, the district expects to have approximately $54 million in expenditures throughout the fiscal year.
The districts revenues are made up from local taxes ($24.58 million), state funds ($22.42 million), federal funds ($4.8 million) and money from 16th Section leases ($184,991).
The district is starting the fiscal year with a fund balance of $30.129 million. That balance is expected to be $28.864 million by the end of the fiscal year, which ends June 30, 2015.
Approximately, $9,122,061.86 will be in the general fund, $5,249,178.29 will be in special revenue, $12,758,659.00 will be in capitol projects, $1,271,650.60 will be paid to debt service and $462,739.86 will be in the district's permanent trust.
Lotis Johnson, the district's business administrator, said she also planned to ask board members to move $2.5 million dollars from the fund balance into the construction fund at the July meeting.
The board's next meeting is July 11.
Sarah Fowler covered crime, education and community related events for The Dispatch.
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