TASD 2004-05 budget approved by school board

The Tyrone Area School Board passed the district’s 2004-05 budget unanimously last night after the 30-day review period for public inspection had expired since the proposed budget was released last month.
The general fund budget reflected total revenues in the amount of $17,696,315 while total expenditures are in the amount of $18,262,274.
The budget calls for $565,958 from the fund balance from 2003-04 to be used to balance the 04-05 budget. This would leave a projected fund balance of $1,497,514 at the end of 04-05.
The budget requires a 81.71 mills tax levy for the Blair County portion of the school district, which translates into $81.71 per $1,000 of assessed value. This represents no increase in taxes for the Blair County portion.
In Centre County, taxes will decrease by 1.69 mills to 19.36 mills or $19.36 per $1,000 of assessed value. Huntingdon County real estate taxpayers will see a decrease of 2.42 mills to 60.11 mills or $60.11 per $1,000 of assessed value.
The adjustments reflect changes in market value as required by the State Tax Equalization Board. The system is used when districts cross county lines.
Last month, Dr. William N. Miller, superintendent of schools, said the budget marked the sixth straight year there will be no tax increase for district property owners.
The Earned Income Tax will be 0.65 percent.
The school board also approved the athletic budget in the amount of $315,608.