District finances were the focus of Tuesday night’s school board meeting in Alton. After a brief public hearing, board members unanimously voted to approve the preliminary budget for the 2012-2013 school year. The budget reflects a decrease in local source revenue as a result of a 1.3-percent reduction in the district’s equalized assessed valuation and Norman says the district will lose more than $1.5-million in total revenue because general state aid will be prorated again this year.
District Director of Financial Services Chris Norman says that the budget has remained flat over the last few years.
In other financial business, the board approved a 2-percent increase to the base salary in the extra duty salary schedule and a 1.61-percent salary increase for the districts exempt employees, which will cost the district a total of $13,500 this fiscal year.