McComb school trustees got their first look at next year’s operating budget of $29.3 million — down from this year’s $30.4 million — and will adopt it next Tuesday.
District finance officer Cathy Jones presented the budget, which takes effect July 1, to trustees at a public hearing and called meeting.
The new budget represents a $1.7 million cut in state funding, more than 13 percent, from $14.5 million this year to a leaner $12.8 million in the coming year.
The district’s millage remains at 58.5 mills. However, that same amount of millage will bring in more money if property values increase. The schools are budgeting nearly $7.5 million from local funding — nearly 26 percent of its total budget for the new year — with $6.9 million from projected ad valorem taxes.
In contrast, the state’s projected revenue of $12.8 million is some 44 percent. Other revenues are $5.5 million from federal sources and $3.5 million from all other sources.
The state’s revenue from the Mississippi Adequate Education Fund is $11.8 million, representing 40.32 percent of the total budget for the coming year.
Of the federal funds, nearly $2 million is for Title I programs and almost $1.5 million will be earmarked for child nutrition.
Expenditures for the new year include $14.4 million for salaries and $5 million for benefits. Together, that makes up some 67 percent of the budget spending.
Jones said there will be minor tweaks in the final budget for the trustees’ vote next week, and she’ll be working “till the last minute” to prepare the numbers.
Superintendent Therese Palmertree said the district was told to expect a 15 percent cut in financing from the state, and she praised Jones and administrators throughout the district for the hard work they put in to do more with less.
“Thanks for the job you’ve done in this very, very deep financial crisis,” Palmertree said.
She said everybody involved in the budget process put in lots of work.
“We probably met every week to ensure making the right decisions,” Palmertree said. “We are poised to accomplish so many things, and there are resources that could help us reach our goal. We’ve just embraced the idea that we’ll do more with less.”
