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School board approves $477,000 deficit budget

Members of the Mount Vernon ISD school board agreed to set a $477,638 deficit budget for the 2014-15 school year during a special meeting on Thursday, July 31.

Revenue from local taxes and state and federal funding is anticipated to be $13,475,000. Agreed upon expenditures were set at $13,952,638.  The deficit will be taken from the district’s $7.7 million fund balance, as will another $315,000 that was added to the current year’s budget. See the August 7 edition of the Mount Vernon Optic-Herald for more details about the school’s budget.