It's that time of the year again.

The Catasauqua Area School Board approved the proposed Lehigh Carbon Community College (LCCC) and Lehigh Career & Technical Institute 2014-15 budgets and the 2014-15 Carbon-Lehigh Intermediate Unit budget during the board's March 4 meeting.

The Carbon-Lehigh Intermediate Unit operational budget for next academic year is $2,938,736, amounting to an increase of $136,000 from last year's budget. The total of all Lehigh and Carbon County district contributions of the operating budget is $823,241. CASD's share is $24,202, a decrease of $220.

The board also approved the Lehigh Career & Technical Institute operating budget in the amount of $24,298,100, an increase of $699,200 or a 2.96 percent increase from last year. CASD's share is $739,034.78, a decrease of $46,224.60 or a 5.9 percent decrease. The proposed academic center budget is $1,454,880 and is based on a projected enrollment of 400 students at a cost of $3,322 per student, amounting to a CASD share of $38,021.

Also approved was the LCCC operating debt service and capital budgets equaling $40,833,323, a decrease of $588,759 from last year's budget. CASD's sponsor share is $183,205, a decrease of $10,483 or 5.4 percent less than last year's budget.

In other business, the board unanimously approved the refinancing of a bond in the amount of $7,385,000. The bond refinance will result in a savings to the school district of $200,000 and will not require an extension of payments or additional borrowing.

"The reality of this is $500,000 in real funds you gained," district Superintendent Robert Spengler said.

Matthew T. Korp was also approved by the board to serve as a trustee to LCCC, from July 1, 2014-June 30, 2020.

The board also approved and set Monday, June 2, as the graduation date. Graduating students will not be required to return to school after graduation to make up class days lost due to weather conditions.