The Vicksburg Warren School District plans to have $2.6 million more to spend in the coming school year, pushing total outlays to $77 million.

Most of the new money will come from the state after the legislature fully funded the Mississippi Adequate Education Program and awarded 3 percent raises to the state’s teachers.

About $500,000 of the new money is expected from local property taxes. Rates are to remain level, but higher valuations and more property to tax will combine to create the increase.

School board members are expected to meet Thursday to approve the budget, which goes into effect July 1.

Technically, the total budget is $87 million, but that number is deceptive, said Superintendent James Price and Dale McClung, director of district financial operations. It reflects $10.6 million in state educational bonds the district refinanced this year to obtain a lower interest rate that will likely save nearly $1 million over the next 10 years, Price said.

Although the bond money came in and went right back out, &#8220it had to show up on our books,” explained Price.

The district will carry over $11,110,534 from reserves or other sources.

The 9,200-student school system expects $75,931,230 in total revenue. This year’s budget was $73.2 million.

The bulk of the expenditures, $58,369,248 or 67 percent, are salaries and benefits.

The spending plan was unveiled Thursday at Beechwood Elementary at a public hearing to about a dozen faculty and staff members. Only two school trustees attended, making delaying any vote necessary.

A breakdown shows the district will receive 51.8 percent of its funding from the state, 32.8 percent from local sources, 13.8 percent from the federal government and 1.4 percent from 16th Section land.

Local sources include property taxes on real estate and personal property, including vehicles, and a tax on casino revenue.

Thursday’s budget meeting was preceded by a ceremony where nearly 50 retiring faculty and staff members were honored.

Graduations for the district’s two high schools are next week.

The coming school year will be the district’s 21st since being formed from the formerly separate city and county school districts. In the first year, the budget was $26.8 million for 10,000 students or $2,680 per pupil. For the coming year, the spending will be $8,370 per student.