FORSYTH COUNTY – A tentative Forsyth County Schools budget for 2017 was approved by the Board of Education on Thursday, with finance officials for the district recommending no changes from when the numbers were first presented last week.
As proposed, teacher salaries are expected be raised 3 percent, with an additional 2.5 percent step increase for all eligible employees included in the $369.6 million budget.
The millage rate is expected to remain at 17.3 mills after increasing 1 mill last year, according to Rick Gunn, the district’s chief financial officer.
The millage rate is the formula that calculates property taxes. One mill equals $1 for every $1,000 in assessed property value, which is 40 percent of the actual market value.
The school system intends to create 225 new positions, including 129 teachers and two principals.
Gunn said the district’s revenue is expected to exceed costs by $2.8 million, which would bring the estimated ending 2017 fund balance to $52.5 million.
The board will vote on a final budget in June, before the fiscal year begins on July 1.
The tentative budget will be advertised for public viewing and comment before next month’s vote.