The Port Huron Board of Education approved, 6-1, the preliminary 2012-13 budget at last night’s meeting. When finalized, the budget would include a 10% pay cut for teachers. The lone no vote was from board member Kathie Sheets. The preliminary budget shows just over $85 million in revenue with $95.5 million in expenditures and projects. Board members say the education association’s pay would be reduced to make sure the district’s fund balance or savings is at 8% of the budget based on a revenue-sharing formula approved in the teachers’ contract. Figures may continue to change as lawmakers have been talking about freezing the retirement rate, which is slated to increase to 27.37% from 24.46%. A committee consisting of four representatives from the district and four representatives from the education association continues to work at finding additional savings. Also approved at last night’s meeting was a motion for the district to become the chartering agency to the St. Clair County Intervention Academy.