Preliminary Budget adopted

The Three Rivers Community Schools Board of Education has adopted the 2013-2014 Preliminary Budget for the new fiscal year beginning July 1.

The action came Monday evening (June 17) following a public hearing during which there were no citizen comments.

The budget projects revenues of $23,781,274 and expenditures of $24, 656,659, thus showing a revenue shortfall of $875,386.

The resolution to adopt the budget also sets various millage levies to support the spending plan:

17.7242 mills for operating purposes on all non-homestead and non-qualified agricultural property

.5 mills for the 2004 debt

.7 mill for the 2007 bond refunding

4.36 mills for the 2008 bond refunding

.54 mills for the 2012 bond refunding.

The total of the debt retirement levies – at 6.1 mills – is down from 6.4 mills last year.