The first of several budget workshops begins for the Aiken County Board of Education tonight. A change in state tax laws could affect 2008-09 revenue. Under the new laws, most educational revenue comes from sales taxes instead of property taxes on primary owner-occupied residences. Tonight's session will outline the general makeup of the school district's revenue and current money allocations.
WHERE THE MONEY GOES
GENERAL FUND: The largest part of the school district's operating budget each year. Last year, the $163.7 million fund made up just over 69 percent of the total $236.8 million budget. The general fund pays for basic functions, including instruction, salaries and program funding.
SPECIAL REVENUE FUND: This account controls federal programs such as No Child Left Behind and career center education. Last year's total was $36.8 million, which includes grants and donations.
DEBT SERVICE FUND: This account is used for new facilities or to renovate buildings. Money from the general fund is not used in this account. Last year the district allocated $14.8 million to pay for projects.
2008-09 BUDGET CALENDAR
MARCH 18: Preliminary revenue and expenditure estimates presented to the board of education
APRIL 15: Present preliminary budget to the board of education
MAY 13: Present tentative budget to board of education
MAY 27: Publish preliminary budget in newspaper advertising public hearing
JUNE 10: Public hearing for the budget
JUNE 10: Public hearing for raising millage, if necessary
JUNE 24: Adoption of 2008-09 budget
NOVEMBER: Publish and distribute budget
2008-09 PROPOSED INCREASES
TEACHER SALARIES: 3.76 percent. The state recommends a 3.3 percent increase each year.
BASE STUDENT COSTS: $2,578 for the 2008-09 year, an increase of $102 from 2007-08.
WHAT IS MILLAGE?
Millage is a figure applied to the value of your property to calculate your property tax liability. One mill is $1 of tax on every $1,000 of taxable value.
2007-08 MILLAGE: 4.36 percent. Millage is expected to decrease this year, but homeowners won't see a major change because of changes in the tax code.
2007-08 REVENUE FROM 1 MILL OF TAXATION: $445,757
Sources: Aiken County School District; Tray Traxler, Aiken County Schools chief financial officer
-- Compiled by Julia Sellers, staff writer
IF YOU GO
WHAT: Aiken County Board of Education budget meeting
WHEN: 7 p.m. today
WHERE: 1000 Brookhaven Drive, Aiken
FOR A COMPLETE budget listing, visit: www.aiken">style="bold">www.aiken. k12.sc.us/site1/Budget/Budget.html
The Augusta Chronicle ©2012. All Rights Reserved.
