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Simpson County School District fiscal Year 2019-2020 budget hearing was held Thursday, June 27, 2019.
No tax increase is projected for the fiscal year 2019-2020.
2019-2020 MAEP formula funding increased by $587,746.00. Funding was also increased by an additional $420,633.00 for teachers and teacher assistant pay increases. Fiscal year 2019 -2020 will see no cuts to teaching staff. The proposed budget will allow funding for two new school buses for the district. There is enough money to budget capital improvements projects for the new transportation facility being moved to Magee and a projected new field house for Magee High School.
There are some increased expenses for the new school year. Textbooks cost are projected to be $75,000 more than the prior year. Teacher and Teacher assistants will see pay increases, which will cost approximately $200,000 more than the funding allocated. An increase in employer matching on retirement will go from 15.75% to 17.4% costing an additional $290,000.00 per year. Health insurance premiums are up resulting in premium increases. The budget will absorb $49,000 of this increase expense.
Simpson County School District has managed their money wisely allowing for cash available to cover the increased expenditures; therefore, no millage increase will be required at this time.
Total Revenues is $36,819763.52 and total expenditures is $37,413,471.22.
The board will vote on the proposed budget at the next meeting in July.
