New Castle News

May 9, 2013

Laurel not anticipating tax hike

By Staff
New Castle News

NEW CASTLE — The Laurel School Board has introduced a $17.4 million budget that requires no tax increase.

The $17,488,091 spending plan for the 2013-14 school year is $947,945 higher than the current year’s budget.

All eight members present voted in favor of the proposed budget. Jeff Hammerschmidt was absent.

The board is expected to take final action at the June meeting.

New spending includes $439,800 for replacement of windows at the junior/senior high school, approximately $424,000 as the district’s contribution to employee pension funds and about $120,000 for new math books.

Business manager Mary Kosek said salaries will increase, but the district will be saving approximately $375,000 in changes to health insurance.

Kosek said the district expects to offset spending increases with state and federal grants. However, the board authorized transferring $1,097,149 from the district’s fund balance if necessary.

The district’s property tax is 12.49 mills.