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Hernando School Board passes $262 million budget

BROOKSVILLE — The Hernando County School Board on Tuesday voted 5-0 to adopt the 2013-14 school year budget of roughly $262 million.

At the final of two public budget hearings, officials projected the district will have an unrestricted ending fund balance of $4.8 million, or 3.21 percent of estimated revenue.

This is the first time in recent years the district projects that it will end in positive territory without making large cuts to the schools.

The reserve estimate would put the district just above the minimum required to keep Hernando off the state's watch list.

Over the summer, district officials said the budget picture is better than previous years, but still not in great shape.

The budget includes a total general fund revenue of roughly $170 million, which is up from the previous school year.

The School Board also unanimously adopted a tentative millage rate of 7.280 for 2013-14, a decrease from the previous year.

This year's millage rate means that someone with a home assessed at $125,000 and a $25,000 homestead exemption would pay $728, or roughly $17 less than last year.

Danny Valentine can be reached at dvalentine@tampabay.com or (352) 848-1432. Follow him on Twitter@HernandoTimes.

Hernando School Board passes $262 million budget 09/17/13 [Last modified: Tuesday, September 17, 2013 11:09pm]
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