Mount Vernon Board of Education Adopts $246M Budget

From Focus Media: The Mount Vernon City School District Board of Education unanimously approved a proposed $246,169,123 budget for the 2017-2018 school year on April 18.

The budget has a zero percent increase in the tax levy.

The total proposed taxes to be collected by the school district will be $134,077,473, which is unchanged for the fourth consecutive year.

The proposed budget is a 3.11 percent increase, or $7,419,288 above last year’s approved budget of $238,749,835.

In March, Moody’s Investors Service upgraded to A1 from A2 the underlying rating of the school district’s $87 million in general obligation debt. Moody’s also upgraded the district’s enhanced rating to Aa3 from A1. A better bond rating means the district will pay lower interest rates, saving millions of dollars in debt service in the coming years and providing more money for our schools and students.

The proposed budget is 100 percent aligned with the Board of Education’s goals to create systems to promote student achievement and increase outcomes, paying particular attention to subgroups in order to close the student achievement gap and implementing a multi-year plan for improving buildings, grounds, and facilities, including the exploration of private and public partnerships.

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