HOPE – The annual consideration of tax funds usage was adopted by the Hope Public School Board here Monday night.
The total expenditure is set at some $20.4 million for the fiscal year beginning July 1, 2018 through June 30, 2019.
The total represents no change from the previous year, and is based upon a total tax rate of 34.7 mills, which includes 25.0 mills for maintenance and operation of schools, and 9.7 mills for debt services, representing no change in the tax millage for the district.
Expenditures under the budget adopted by the board include $10.4 million for salary fund; $4.5 million for instructional expenses; $2.7 million for maintenance and operations; $1.1 million for pupil transportation expenses; $1.2 million for bonded debt payments; and, $500,000 for building fund.
The district may use surplus revenues produced each year by its debt service millage for other purposes, according to the budget.