School board adopts budget calling for millage increase
By Melody Moorehouse
The Sheridan School Board adopted a resolution and budget on Monday night that calls for a 2.5 millage increase to be used to finance over $11.5 million in construction.
The proposed statement of expenditures with tax levy approved by board members was for the 2002-2003 school year. Superintendent David Robinson noted the purpose of adopting the projected budget was to declare the millage rate. State law requires that each year all Arkansas schools adopt and publish a projected budget for the school term one year in the future.
The adopted statement proposed a tax of 32.7 mills, a 2.5 mill increase over the current 30.2 millage rate. The tax included the Statewide Uniform Rate of 25.0 mills for maintenance and operation of schools in Arkansas. The school tax levy of 32.7 mills included 9.9 mills specifically voted for general maintenance and operation, 20.3 mills voted for debt service previously voted as a continuing levy pledged for the retirement of existing bonded indebtedness, and 2.5 new debt service mills.
The next meeting of the Sheridan School Board will be Aug. 13 at 6:30 p.m. in the board room of the 1913 Building.
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