Demopolis City Schools will lose $473,792 in state funding for this school year if Amendment One (or Governor Bob Riley’s tax reform plan) is not passed, said Linda Agee, chief finance officer of the city schools system.

A proposed budget for fiscal year 2004 was released by the city schools system on Monday.

The budget is based on proposed funding levels proposed by the State Department of Education this summer and is similar to funding anticipated if Amendment One is passed by state voters on September 9, Agee said.

The budget figures were released during the first of two public meetings on the budget.

Expected revenues are $14,222,119.00 including 67 percent from state funding. Expenditures are $14,408,388.00 including $8,703,356.00 for instructional services (including payroll) and $2,149,503.00 for instructional support services.

Salaries and benefits constitute 78 percent of the total budget, which Agee said was an increase of 1.5 percent over fiscal year 2003.

If Amendment One fails, the city system is expected to be prorated 6.5 percent for FY 2004. City schools will lose $3,200 per state teacher unit earned, which Agee said would equate to 148.6 units times $3,200 for a total of $473,792.00.

The next budget hearing will be held at 5 p.m. on September 4.