Old Orchard Beach voters overwhelmingly approved a $12.7 million school budget Tuesday by a vote of 353-125.

The spending plan for the fiscal year starting July 1 is up 3 percent, $370,000, over the current budget.

The annual tax impact of the new budget is expected to be 8 cents per $1,000 property valuation, $16 per year for the owner of a home assessed at $200,000.