Show SCHOOL BUDGET INCREASES TAX TOT At FOR CITY Levy of 1115 Mills to toBe toBe toBe Be Required as Against A minimum boost of 65 of ot a mill null millin millin in the 1935 tax levy confronted Mr and Mrs Taxpayer iyer of ot Salt Lake City Wednesday after city school officials had tentatively adopted a budget totaling for the school year 1935 The budget Is U higher than the 35 1934 budget It will require a alevy alevy alevy levy of ot 1115 mills compared to the 1934 levy of mills State county and municipal levies all of which must be added to the school hool levy lev- levin in this district have not yet been fixed bed for lor 1935 Public Hearing June 7 Z The school chool budget will vill be available available available avail avail- able for lor public inspection until p. p m. m June 7 at school offices in the county city building At that hour a public hearing will be held on the proposed budget and on June 11 the board of education will formally orm ly consider consider consider con con- sider the budget for lor final adoption Comparison of levies under the existing and new budgets Purpose 35 1934 36 1935 Maintenance 9 mills 9 mills Bond Interest 1 I Sinking Fund 50 55 Deficit Retirement 35 Totals 1115 More for lor Maintenance More than or the bulk of the increase in the new budget is made for the benefit of the maintenance ance fund lund This fund includes includes- 2 2 of the proposed budget and provides for for lor instruction tion lion but does not embrace an anticipated anticipated antici antic deficit of from the current years year's operations Remainder of the budget is made up of ot for bond interest including an anticipated deficit of and for bond sinking fund The total anticipated de deficit at the end of the current school chool year June 30 1935 is fixed at To Cut Cui Deficit Recognizing need of definite steps to wipe out this deficit if il the school districts district's credit rating is to be maintained maintained main main- tamed board members authorized a levy of ot 35 mill as part of ot a four- four year program to ra raise funds to clean cleanup cleanup up the deficit Such a levy was not I embraced d by the 35 1934 budget I The estimated deficit of ot in the maintenance fund lund as of ot June 30 1935 is expected to tobe be reduced to by June 30 1936 and the anticipated deficit of in inthe inthe inthe the bond interest fund as of June 30 30 1935 is expected to be reduced to by June 30 1936 through operation of the 35 mill deficit retirement retirement retirement re re- re- re lev levy and economies to be effected b by administrative officers it was said Division of Levies Levies based on an esse- esse assessed ed valuation valuation valuation tion of are arc expected to I raise for the i nance fund for the bond interest interest interest in in- terest fund and for lor the bond s sinking fund I The maintenance fund will also receive from the district school fund funds from the state high school fund from the state equalization fund and miscellaneous revenue |