Crestwood School Board approved a new budget a full percentage point below the proposed budget presented in May.
Under the leadership of President Jerry Orloski, the directors started their June 19 meeting with a power-point presentation by Courtney Lomax, of the district business management agency, Albert B. Melone Company. “I’ll be brief with this. This is the Final Budget for the 2014-15 school year. It starts July 1, 2014.
“The board passed a Proposed Final Budget in May and this is an update of that budget,” Lomax explained as she presented a three-column projection of the proposed dollars on the revenue and expense category; a column with adjustments and then the final value of the budget array.
“The board is going to vote to reduce millage from 2.7 %, which was proposed, to a 1.7% increase. The new millage rate will be 9.4089. Just as a note -this is a $267,000 increase over current millage.” The 2013-14 tax millage is 9.2516.
After describing the other revisions, Lomax provided the illustration, based on the county’s average home value of $172,000, that the new tax rate will mean an increase of $27.06. For a home valued at $300,000 the taxes will rise by $47.19. The fiscal plan shows a beginning fund balance of $4,716,224.
The budget was sent to the board for a vote on a motion by Finance Chair and Vice President Ken Malkemes, who added, “The Final Budget amount is $35,374,592.”
The dissenting votes were cast by Eric Aigeldinger, Michael Marshall and Maureen McGovern.
See Crestwood page 4