City school system to hold on tax rate

The first reading of the proposed budget was held Monday night at the board’s regular monthly meeting.

The proposed budget projects an estimated general fund revenue of $2,880,976 from local taxes, with a total estimated revenue of $12,247,598 once federal and state sources, as well as other local sources, are factored in.

The proposed budget also shows a total estimated expenditure of $13,008,859 in expenses, leaving $761,261 to come out of reserves.

The fund equity for the beginning of the year is projected at $1,500,000. By the end of the year, that is projected to fall to $738,739.

Superintendent James E. “Mac” McCoy said some changes had been made to the proposed budget over the weekend.

“We’re in better shape,” McCoy said. “We’re still going to tighten the belts as the year goes. We set everything based on revenue that we generated this year. We hope we’re conservative, or at least balanced on that.”