The 2018-19 school year budget for the Prescott School District was unanimously approved by the district's annual meeting held last evening in the Prescott High School Library.
The budget includes a tax levy of $8,546,945 with a mill rate of 11.08 mills. The levy is down 10.52 percent from the 2017-18 budget and the mill rate is down from a 12.25 rate last year as well. These declines were due to an increase in state aid, over million from the 2017-18 budget.
The general fund budget expenditures are at $16,139,033, which is over the revenues of $15,713,033. This is due to future expenditures of a new school bus and a masonry repair project to the front of the Prescott Middle School which will be worked on next summer but will be paid for in this school's year's budget. .
Going into the school year, there was 4,064,361 remaining in the general fund as of June 30, the end of the fiscal year. Total expenditures in the whole budget of all funds comes to $22,202,181.26.