G-RF board approves balanced budget

GEORGETOWN — School board members adopted a balanced $9.02 million spending plan for the 2013-14 fiscal year on Monday, after cutting expenditures by about $1 million from the previous year.

The board anticipates generating about $9.04 million in revenue during the upcoming year. The budget includes a $583,000 deficit in the education fund, but it is offset by surplus funds in other line items.

Last December, the school board voted to address a $1.1 million deficit in the $10 million district budget by approving a 14.03 percent increase to the tax levy, and voting to close Ridge Farm Elementary School at the end of the 2012-13 school year.

Neal said that the district brought in $27,300 by selling some surplus materials from Ridge Farm Elementary and will soon be seeking sealed bids for the purchase of the property.

The district will soon advertise for bids for the deactivated Ridge Farm Elementary, which includes a 35,000-square-foot building and 13 acres of grounds. The board has decided to sell the building and the land together, and to set a minimum bid of $150,000 for the two.

 

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