The Greencastle-Antrim School Board approved a $40 million 2018-19 budget Thursday that does not include a tax increase.

The spending plan has projected revenues of $39,556,323 with projected expenditures of $40,892.651. It is supported by a property tax rate of 109.84 mills, unchanged from 2017-18. The shortfall between revenues and expenditures will be drawn from the general fund if necessary.

However, Jolinda "JC" Wilson, chief financial officer, noted the district is in a growth mode and may see addition revenue in real estate transfer taxes.

No educational programs were cut in the budget, which includes the addition of a reading specialist, $100,000; assistant principal at the middle school, $30,000 from administrative intern; and raises for the 107 members of the support staff, $100,000.

In addition, the budget includes a transfer of $745,960 to the capital reserve fund for future projects. That is the amount the district's debt service will drop next year.

Wilson said previously she used more aggressive revenue projections in preparing the budget, including increases in basic education and special education funding from the state.