No tax hike in BOE budget; but system plans to spend nearly half of its reserves to fund expenses

Posted by
Mike Buffington
in Education Archives
Thursday, June 2. 2011
Comments (0)
The Barrow County Board of Education is slated to give tentative approval next week to a proposed $132.5 million FY2012 budget. The proposed budget does not call for a tax hike with the millage rate staying at the current 18.5 mills.

But the proposed budget does call for a lot of red ink in FY2012 with the system’s main fund, the General Fund, dipping over $5.1 million into reserves. That will leave the system’s reserves critically low at only $5.5 million at the end of next year, less than one month’s expenses.

The school system’s General Fund looks to spend $90.6 million next year, but officials only expect to take in $85.5 million in revenues. That’s because of a lower tax digest and other revenue cuts in state and federal funds.

The system has approved a number of spending cuts, including having six furlough days in FY2012.

The BOE plans to give final approval to its budget at 6 p.m. June 28.
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