Union County commissioners have approved a new school district funding formula.
Commissioners voted Monday night to tie the districts funds to the countys tax rate on property and personal property, with the district getting part of the revenue generated by that rate.
The tax rate is the equivalent of 66 cents for every $100 of value. Under the formula, the district will receive the equivalent of 35.36 cents in the upcoming fiscal year, or nearly $82.4 million. Thats a net increase of $2.1 million in additional funding and services for operations.
The county has said the formula is meant to be transparent, fair and a way to predict future spending needs while providing accountability. Previous requests were simply made from year to year for a specific amount with little long-range planning, county officials said.
The school district is easily the largest component of the countys general operating fund.