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Grand Island School Superintendent Paul D. Fields told the School Board Monday night that the district expects an $8 million loss in property assessments while receiving a $700,000 increase in revenue in the 1998-99 school year.

Regarding the district's $8 million assessment loss, Fields noted that five companies received assessment reductions: Fujisawa USA Inc., New York Telephone, Empire State Pipeline, Sehi Pumps Inc. and National Fuel.

Fields said he hopes to present a preliminary budget package to the board at a special meeting at 7 p.m. next Monday in the district offices.

Board President Richard J. McCowan noted that last year the district received $14.5 million in property tax revenue, $7.5 million in state aid, $1.99 million in state lottery funds and $1.97 million from the state sales tax in a total budget of $29.4 million.

The proposed budget for 1998-99 will include $650,000 for capital projects, Fields said.

High School Principal James R. Dempsey and program coordinators for science, mathematics, English, social studies and foreign languages reported to the board on the district's accomplishments on the state report card.

The board also heard a report on the Kaegebein-Sidway Elementary School's "Fantastick Friends Program" in which fourth-graders at Kaegebein act as mentors for kindergartners at Sidway.

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