By GALEN HOLLEY
The Grenada School District Board got it’s first look at a new $35,665,512 budget this week.
The bulk of the Grenada School District’s revenue comes from state sources, and most of that money comes from the Mississippi Adequate Education Program, according to District Financial Director Bo Surrell.
“I think it’s important to note where most of our money comes from so that citizens are informed about the district’s finances,” said Surrell.
Surrell presented the fiscal year 2014 budget to the school board on Tuesday at a public hearing.
The board took no action, but is expected to approve a new budget later this month.
According to Surrell, 58 percent of the district’s revenue of $33,983,210 for fiscal year 2013 came from the state.
Ninety-four percent of that state revenue came from MAEP. The Mississippi Adequate Education Program was passed by the Mississippi Legislature in 1997. It’s aim was to increase student achievement and eliminate inequity among school districts.
The law provides a formula that distributes the necessary educational resources to Mississippi school districts equally. MAEP has only been fully funded twice since its inception, and one of those years it was cut mid-year, Surrell said.
The second largest source of revenue for the school district was local sources, according to Surrell.
Ad valorem taxation accounted for 89 percent of that local revenue in 2013.
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