School Seeks Small Tax Hike

School Seeks Small Tax Hike

By David Howell

       Editor

WATER VALLEY – The Water Valley School District trustees are expected to adopt an almost $10 million budget for the 2016-17 Fiscal Year that includes a six percent local tax increase. The budget was presented during a public hearing on July 1 and will be finalized during a special meeting on July 18.

The tax increase will bring in an estimated $84,651 in additional funding from local ad valorem taxes and marks the first request for an increase by trustees in five years. It also reflects $90,000 in cuts in state funding from the Mississippi Adequate Education Program, according to the district’s business manager, Randy Goodwin. He explained a slight increase from Chickasaw Cession funding will bring the total decrease in state funding to just over $50,000.  

The 2016-17 budget includes $9,964,563 in estimated revenue projections, up only $10,000 from the previous year, with 19.6 percent coming from local sources, 66.5 percent coming from state sources and 13.9 percent coming from federal sources. On the expense side, just over 80 percent of the budget will fund salaries and expenses for the school personnel, 15.5 percent is allocated for supplies, utilities, etc. and 3.8 percent, or $375,081, will fund the district’s debt service.

Among budgeted items in the district funds are $50,000 for textbooks, $53,500 for school supplies, $50,000 for repairs and maintenance to the buildings and  $20,500 for a school bus that will be used for the district’s new pre-K program. An additional $108,403 is budgeted as a surplus for the district. Ideally Goodwin said the surplus will be used to make ongoing improvements to the buildings.

“If we can do improvements by saving money instead of a bond issue, that is the goal,” Goodwin explained.

But Goodwin said the surplus will likely be used to counter anticipated state cuts in the coming fiscal year as state lawmakers continue to battle a dismal financial situation. Goodwin cited a similar cut in April that came as state lawmakers slashed most state agencies’ spending for Fiscal Year 16. The cuts prompted Governor Phil Bryant to also make cuts to Fiscal Year 15, which decreased the district’s funding by $25,000.