Board to use reserves to balance budget|
ATHENS — They will cost the Limestone County Board of Education more than $48 million and make up the largest percentage of the fiscal 2006 budget.
They are the school system's employees, whose salaries and benefits make up 72 percent of the budget the board approved Monday.
The board expects to receive $63.9 million in federal, state and local funding, a figure Jonathan Craft, custodian of funds, described as conservative. The money includes $1.8 million in property taxes, but does not include an expected 18 to 20 percent increase from annual property reappraisals.
The board plans to use $2.02 million from its reserves to balance the budget. It will have expenses totaling $66.3 million.
Superintendent Barry Carroll said the board will formulate its five-year capital plan in September, when the board will determine what projects it needs to undertake and how to fund them.
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