An operating budget of $24,675,689, and tax rates of $1.04 per $100 valuation and $0.2307 for debt service were adopted Wednesday for the 2008-2009 school year by the board of trustees of the Brownwood Independent School District.
The food service budget adopted is $1,555,460, and the debt service budget is $2,946,040 - a total of $29,177,189 for all funds.
The tax rates are unchanged from last year.
The board also amended the 2007-2008 budget in preparation for the end of the fiscal year Aug. 31. Figures presented by Superintendent Reece Blincoe and Assistant Superintendent Kevin Gabaree indicated that the fund balance carried over into the new year will be $7,718,626, up $134,089 from this time last year, and all of this year’s bills have been paid.
Gabaree also reviewed with trustees the changes in budgeted amounts made among categories, and noted that an additional $2.2 million in insurance proceeds to cover roof repairs was reflected.
The board also approved a resolution indicating that it fell short of the 65 percent target for instruction in overall expenses, citing construction costs that reduced the percentage to 63.35. Blincoe said the percentage is expected to be above the target next year as construction within the district in completed.