Hermleigh adopts surplus budget

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For the second year in a row, Hermleigh ISD officials will have a surplus budget to work with.
During a special meeting Monday, trustees approved a $3.26 million budget for 2018-19 that is projected to leave the district $386,000 to the good by this time next year, Superintendent Brent Dawson said.
The biggest share of the expenditures, as always, will be in instruction, which includes educators’ salaries — more than $1.2 million is allotted for that line item.
To fund the budget, trustees adopted a tax rate of $1.29 per $100 valuation. 
That rate is unchanged from last year but with increased valuations within the district it is expected to bring in almost $300,000 in additional revenue for the district. 
The balance of revenue for this year’s budget will come from state sources, Dawson said.
The tax rate is separated into two parts — $1.04 for maintenance and operation and 25 cents for debt service. The debt service rate is not expected to raise enough money to cover the district’s bond obligations this year, but Dawson said reserve funds can easily make up the difference.
“We have plenty in reserves,” he told trustees. “I feel very confident there will be enough in (debt service) reserves to help see us through the end of the bond payments, without having to  raise the tax rate.”
Also Monday, trustees accepted Dawson’s resignation, but held off on taking immediate action to find a replacement.
Dawson announced Thursday he was resigning as superintendent effective Oct. 5 to pursue a business opportunity in the Bryan area.
Trustees discussed naming an interim superintendent and the search process for finding a permanent replacement during a 90-minute closed session, but took no action.
“They talked through it, but decided they weren’t ready to take action yet (on naming an interim superintendent),” Dawson said. “They will reconsider the issue during their September meeting.”
In other business, trustees approved an update to the local wellness and health services policy and agreed to purchase attendance credits from the state as the district’s contribution to the school wealth equalization program.