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Hardin County Schools’ officials gave the board a full picture of its financial status this week.
The Hardin County Schools board approved the district’s working budget Thursday night at the board’s regular meeting. The working budget is the third and final step in the district’s budgetary cycle. The general fund shows an increase from the expectations of the tentative budget, which was approved in May.
The HCS general fund consists of almost $102 million in revenue, up from the $96.6 million forecast in the tentative budget.
The two largest sources of revenue for the district come from local taxes and state funding. Local tax revenue is budgeted to be about $28.3 million, and the district is expecting almost $53 million from Support Education Excellence in Kentucky, the state funding source.
SEEK money dropped from about $54.3 million in last year’s budget. District officials said the amount they expect to receive in SEEK will be be reduced by the end of the year, as has happened in years past, according to a decision paper presented to the board.
Personnel will receive a cost-of-living raise and as a raise based on experience. Salaries for instructional staff are budgeted to be about $47.7 million for the year, up from $44.6 million last year.
The capital outlay fund includes about $1.3 million, which will be used for maintenance and repair.
The food service fund is about $8.5 million, a decrease from the $10.1 million the fund had last year.
The board unanimously approved the budget.
Kelly Cantrall can be reached at 270-505-1747 or firstname.lastname@example.org.