The Elkin City Schools finally has a final budget for the 2015-16 fiscal year with which to work, but it did require using more local funding to make up differences left by a shortfall from state funding.
“We are finally presenting the first budget. It’s been a long time coming,” said Jan Zachary, the school systems finance director. “After all the budgets came in, the local current expense fund appropriation came in at $2,970,689.”
She said the state was supposed to fund teachers assistants at the same level as the 2014-15 school year, but when the funding allocation came in, it was $16,000 less than what Elkin officials expected.
Also, the school system lost state position funding for a couple of teachers, reported Zachary, meaning those positions had to be moved to locally funding positions. She said a third position may have to be moved to local funding as well.
The final revenue totals came in at:
• Local current expense fund — $2,970,689
• State public school fund — $7,809,892
• Federal grants — $553,451.07
• Child nutrition — $703,635
• Capital outlay — $1,235,210.37
• Local special revenue — $337,613.48
The total budget for the fiscal year will be just more than $13,610,000. “That is quite a lot for our little school system to deal with in eight different funds,” she said.
She explained that the shortfall will be made up through use of a fund balance appropriation of $899,000, which includes a contingency of $141,000. Last year’s fund balance appropriation was $739,000, Zachary reported.
It was noted that only 45 percent of that fund balance appropriation last year was actually spent.
“We plan for a worst case scenario,” she said of the $899,000. “We don’t know where the supplemental tax will come in until closer to November or December. Hopefully we won’t have to use that all.”
School board member Frank Beals did point out that adjustments can be made throughout the year in the form of budget amendments.
The budget resolution was passed unanimously following a motion for approval by board member Haley Sullivan and a second by board member Dr. Jane Riley.
Wendy Byerly Wood may be reached at 336-258-4035 or on Twitter @wendywoodeditor.