(PALMYRA)—Palmyra’s School board approves a 9.6 million dollar operating budget for the coming fiscal year. Highlights of the budget include a 400 dollar vertical step on the salary scale for teachers years of experience and 700 dollars added to the base salary of teachers. Money to purchase a new 77 passenger bus is included as are increases in fuel and energy costs. Palmyra school officials say the state’s new funding formula will not be fully funded for a third consecutive year. However, district officials do expect a 135 thousand dollar increase in state formula revenue over the current fiscal year.