The Lexington County School District One Board of Trustees will hold a public hearing to gather input and to present the third reading of the district’s 2019–2020 General Fund operating budget.
The public hearing takes place on Tuesday, June 25, 2019, at 7 P.M. in the Auditorium of Building One of Central Services located at 100 Tarrar Springs Road in Lexington, South Carolina.
Last year, fiscal year 2018–2019, the district budgeted operating revenues and expenditures of $280,561,476. The district’s proposed General Fund operating budget for fiscal year 2019–2020 is $296,184,749.
The $296,184,749 in estimated operating expenditures and revenues for 2019–2020 represents about a 5.6% increase over last year and consists of about 88% salaries and related costs, 7.5% for programs and services, and 4.5% for utilities and maintenance.
The projected General Fund operating budget is an increase of $15,623,273. This consists of an increase of $15,170,956 in employee salaries and related costs (6.2% increase), and an increase of $452,317 in programs and services (1.3% increase).
The projected General Fund operating budget:
- maintains the current student-to-teacher ratio formula per classroom on average;
- includes a net gain of 77.55 staff positions to accommodate growth;
- includes a step increase for most employees (about $3.7 million);
- includes health and retirement increases (about $2.0 million);
- includes a 4% salary increase for eligible certified staff, a 2% salary increase for all eligible support staff, and a 1% salary increase for administrative staff (about $6.6 million combined);
- includes funding to meet state and federal requirements;
- includes an increase in the amount of money the district pays for School Safety Officers in elementary schools;
- transfers allowable costs to capital funds; and
- budgets $9.3 million from fund balance (about $317,000 more than last year).
In this budget, the district does not request an increase in operating millage. It will remain at 322.40.
Lexington District One’s debt service millage (85.3 mills) is only 12 more mills than it was in 2008 when taxpayers approved the last bond referendum. Each year, because of the one-cent sales tax generated by the Lexington County School District Property Tax Relief Act, a portion of that 85.3 mills for school bonds is offset by a tax credit, meaning that no Lexington District One taxpayer pays the entire 85.3 mills, no matter what type of property tax.
This means that a Lexington District One resident with an owner-occupied home valued at $100,000 pays about $123 a year in total school taxes of any kind (general fund and capital) on that home.
For more information about Lexington One’s proposed 2019–2020 General Fund operating budget, visit the district’s website at www.lexington1.net.