SP Hearing

Published 12:00 am Tuesday, June 15, 2010

South Panola, anticipating mill increase, to hold hearing

By Rupert Howell

An annual public hearing concerning South Panola School District’s 2010-2011 school year budget is scheduled Friday, June 18 at noon at the Parent Center located on at 204 College Street in Batesville next to the Intermediate School Building.

A legal advertisement states the district’s current projected budget is $28,033,906 with 27.8% or $7,798,852 of that revenue raised through local ad valorem taxes.

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The proposed budget is projected  at $29,548,154, a 5.4% increase over the total current budget. The figures do not include payment of bonded indebtedness or school bonds.

Local taxes will pay for $8,414,556 or 28.5% of the total proposed budget although the increase in local taxes from the current year to the coming year is 7.9%.

The advertisement states that the school district plans to increase the school district’s ad valorem tax millage rate by 1.56 mills from 52.73 to 54.29, which is a three percent millage rate increase. Currently an additional 3.5 mills is added for bonded indebtedness and tax shortfall payments.

The millage rate is not determined by county officials until after the school’s budget deadline as their budget year and deadlines differ from the school district’s. This leads school officials to use “best guess” and previous figures and has previously resulted in inexact budgeting from the revenue side.

A 1 p.m. budget meeting will follow the hearing where trustees traditionally adopt the proposed budget. The school’s trustee board also meets Tuesday at 7 p.m. for the regular monthly meeting, both at the same location.