Franklin BOE Expected to Adopt FY22 at Tonight’s Meeting

And a final reminder that the Franklin County School Board is expected to formally adopt their FY22 budget at their meeting this evening after a second public hearing.

Tonight’s meeting takes place at 6p at the Board of Education office on Busha Road in Carnesville.

Earlier this month, the Board received an overview of the proposed General Fund budget from Bonnie Knight who was hired to put together a tentative FY22 school budget based on the system’s strategic plan and last year’s millage rate of 17 mils.

Knight said the proposed General Fund budget is expected to have revenues and expenditures of $37,091,563.

Most of the revenue will come from State-provided Quality Basic Education or QBE funds of just over $23.1 million.

Knight also pointed out that Franklin County’s equalization allotment from the State has gone down from 70% state funding in FY20 to 62% in FY22.

Behind that is funding from local property taxes in the amount of just over $12.5 million.

Other funding sources she said include $376,635 in Charter funds and $1.4 million in other local revenues and reimbursements.

A special session will be held on June 24 to set the millage rate.

The Board will then formally vote to adopt the millage rate at their meeting on July 22nd.