Citrus County School Board members voted in a final budget and millage rate Tuesday afternoon for their district.
In a 5-0 vote, the board approved a $255,373,844 allowance for the 2019-20 school year.
A total millage rate of 6.125 mills, which taxes Citrus County’s appraised worth of $11.07 billion, was also unanimously OK’d to help fund $49.16 million in operating costs and $15.94 million in capital costs.
School district funding comes from county, Florida, federal and miscellaneous sources.
Board members also approved the final annual report for the 2018/19 fiscal year, which put $1.09 million back in the district’s wallet, leaving $11.90 million in the general fund.
Estimated revenues for the new fiscal year’s general fund is $134.5 million, which includes a $8.29 million transfer from the capital fund.
This is expected to cover $139.99 million in total daily costs, which includes $110 million in salaries and benefits, requiring $5.49 million to be pulled from the fund balance.
Out of an available $43.31 million, $24.66 million will be allocated towards capital projects this school year.