Under state law, when a local taxing district enacts a property tax rate that generates 4 percent more revenue, it must hold a public hearing, which the Danville board will conduct in the near future. If the amount to be generated is more than 4 percent, the new rate is subject to hearings and a potential recall vote.
The board kept other local tax rates the same as last year: tangible, 64 cents per $100 valuation; motor vehicle tax, 66.9 cents; and utility tax, 3 percent.
The tax rates will support the working budget for 2003-04 that the board also approved Monday night. The budget totals nearly $16.5 million with nearly 75 percent of that, or about $12.2 million, going to the general fund.
Forty-five percent of the total budget comes from state funds, 42 percent from local funds and 13 percent from federal sources.
A look at revenue sources, expenditures
Based on a report given to the board by district financial officer Patsy Clevenger, here is a breakdown of major revenue sources in the $12.2 million general fund budget:
* State funds, $5.17 million.
* Local property taxes, $3.15 million.
* Local utility taxes, $800,000.
* Local motor vehicle taxes, $325,000.
* Local franchise taxes, $230,000.
* Beginning balance, carried over from 2002-03, $2.4 million.
Here are major areas of expenditures, 75 percent of which go in one way or another for instruction:
* Instruction (teachers' salaries and supplies), $6.2 million.
* District administrative support (superintendent's office and personnel, board expenses, and the state-mandated $1 million contingency fund), $1.74 million.
* Plant operations and maintenance, $1.67 million.
* School administration (school principals and secretaries and their expenses), $671,000.
* Instructional staff support (central office administrators, including directors of curriculum and early childhood services), $516,000.
* Student transportation, $507,000.
In a related budgetary matter, the board approved the salary schedule for substitute teachers. Substitutes were given the same 2.7 percent pay hike that was earlier approved for regular certified and classified personnel.
The pay for substitutes ranges from $55 a day for a Rank V teacher with 0-3 years of experience to $82 a day for a Rank I teacher with 20 years or more of experience.