Board introduces $23.9M budget
SHARON, Pa. -- Sharon City school directors have formally introduced a tentative version of a 2004-05 budget of $23,868,211 but officials predict that number will change before final passage in June.
The board voted on the spending plan Monday, noting that it shows a $265,000 shortfall. That's the equivalent of 2.8 mills of real estate taxes, but James Wolf, district business manager, said a tax increase of that size is unlikely.
Some of the numbers are already changing and the district is working on further spending reductions to bring the spending plan more in line with anticipated revenues, he said. Revenue projections are $23,603,200.
Current real estate taxes stand at 51.9 mills. One mill costs the average residential taxpayer $16.50.
A breakdown of major revenue and expenditure items shows:
REVENUES
U Real estate taxes: $4,893,200.
U Wage taxes: $800,000.
U State aid: $14,256,200.
U Federal aid: $841,500.
SPENDING
U Instruction (salaries and benefits): $14,688,001.
U Building operations: $2,483,500.
U Administration: $1,395,290.
U Pupil support services and transportation: $1,949,430.
U Debt service: $2,241,840.