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OXFORD, Miss. (AP) — The Lafayette County School Board has worked out a budget for the next fiscal year that is $40,000 less that present funding.
The budget year begins Oct. 1.
The school board is expected to formally vote on the budget next month.
Lafayette County Superintendent Adam Pugh tells The Oxford Eagle (http://bit.ly/UD8PBb ) the budget is less because the district was able to refinance a bond used for school construction in the early 2000s at a lower interest rate. That resulted in the district saving money.
School district financial adviser Mark Brown said the total estimated budget is about $25 million, which comes from local, state and federal sources.
The school's budget will go to the county board of supervisors for approval once the school board acts.
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Information from: Oxford Eagle, http://www.oxfordeagle.com
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