The Bryan County Board of Education unanimously approved recently a tentative budget of more than $48.7 million for fiscal 2012 that balances a loss of about $2.3 million in tax revenues.
The action was taken last week during the board’s regular meeting at G.W. Carver Elementary School in Richmond Hill but is the board’s first step in approving a final budget. The BoE will vote on its final 2012 budget at a future meeting. The school board’s new fiscal year begins July 1.
Overall revenues for fiscal 2012 decreased only by about 2.5 percent, or $1.2 million. But revenue from local sources, namely the ad valorem tax, took the biggest hit due to the decline of property values in the county. That revenue dropped about $2.3 million from $19.6 million in the current year to $17.3 million for 2012.
But the fact that Bryan County’s schools are growing have helped make up that some of that difference. The school board expects to receive about $1.7 million more, $30.4 million compared to $28.7 million in 2011, from the state because of increased student population.
Read more in the June 4 edition of the News.