PROPOSED BUDGET OF EXPENDITURES
’VITITH T.AX LEVY FOR FISCAL YEAR BEGINNING JULY 1, 2014 TO AND
JUNE 30 , 2015
The Board of Directors of Genoa Central School District No. 1 of Miller County, Arkansas, in compliance ·with the requirements of Amendments No. 40 and No. 74 to the Constitution of the State of Arkansas and of Ark. Code Ann. § 6-13-622 has prepared, approved and hereby makes public the proposed budget of expenditures, together with the tax rate, as follows:
l. Salary Fund Expenditures $ 5,543,000
2. Instructional Expense $1,024,000
3. Maintenance & Operation Expense $ 1,116,000
4. Dedicated M & 0 Expense $ 0
5. Pupil Transportation Expense $ 684,000
6. Other Operating Expense $675,000
7. Non-Bonded Debt Payment $402
8. Bonded Debt Payment
To provide for the foregoing proposed budget of expenditures, the Board of Directors proposes a total school tax rate (state and local) of 47.0 mills on the dollar of the assessed value of taxable property located in this School District. The proposed tax includes the uniform rate of tax (the "Statewide Uniform Rate") to be collected on all taxable property in the State and remitted to the State Treasurer pursuant to Amendment No. 74 to the Arkansas Constitution to be used solely for maintenance and operation of schools in the State. As provided in Amendment No. 74, the Statewide Uniform Rate replaces a portion of the existing rate of tax levied by this School District and available for maintenance and operation of schools in this District. The total proposed school tax levy 47.0 mills includes
25.0 mills specifically voted for general maintenance and operation and 22.0 mills voted for debt service previously voted as a continuing levy pledged for the retirement of existing bonded indebtedness. The surplus revenues produced each year by debt service millage may be used by the District for other school purposes.
The total proposed school tax levy of 47. 0 mills represents the same rate presently being levied.
GIVEN this 14th day of May, 2013.
BOARD OF DIRECTORS OF GENOA CENTRAL SCHOOL DISTRICT NO. 1 OF MILLER COUNTY, ARKANSAS
President of Board
Secretary of Board