Falmouth school officials presented a $29.3 million budget proposal Friday, calling for a nearly 12 percent increase over this school year’s spending.

The first debt payment on the new Falmouth Elementary School accounts for just over 5 percent of the proposed 11.9 percent spending increase for the 2012-13 school year, say Superintendent Barbara Powers and Finance Director Dan O’Shea.

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“We would encourage that this part of the budget be considered outside our operating budget proposal as it was already taxpayer approved,” Powers and O’Shea said in a written overview delivered to the School Board on Friday afternoon.

Powers and O’Shea identified three causes for the remaining 6.8 percent spending increase:

A $650,000 reduction in federal revenue and state Medicaid reimbursements.

A 2.25 percent negotiated cost-of-living salary increase for teachers.

Fifty additional students, pushing total enrollment to 2,151.

The budget proposed for the year that starts July 1 is $3.1 million more than the $26.2 million spending plan for the 2011-12 school year.

Falmouth’s state education aid is expected to increase $1.5 million — from $6 million to $7.5 million — because of the enrollment increase and a decrease in property values.

However, most of the aid increase is earmarked for elementary school construction debt, which will push the district’s total debt payments from $3 million this year to $4.4 million in 2012-13.

If the School Board and Town Council make no cuts, the school budget will add 70 cents to the town’s property tax rate of $12.92 per $1,000 value. The annual tax bill on a $300,000 home would increase $210.

The school budget added 55 cents to the tax rate this year, but it had no impact in fiscal 2010-11 and 2009-10.

Town Manager Nathan Poore proposed an $11 million municipal budget earlier this week, calling for a 3 percent spending increase in fiscal 2012-13. For the fourth year in a row, the municipal budget would add nothing to the tax rate.

The municipal share of the current $12.92 tax rate would hold steady at $3. The school’s share is $9.36 and the county’s share is 56 cents, according to the town assessor’s website.

The Town Council and the School Board will hold a joint budget meeting at 3 p.m. March 27 in the council chamber.

A public hearing on both budgets will be held April 11, followed by a council vote on April 23 and a townwide referendum on the school budget June 12.

Staff Writer Kelley Bouchard can be contacted at 791-6328 or at:

[email protected]