The Elkin City Schools Board of Education has approved its new budget.
Board members voted Aug. 26 to approve the 2013-14 budget. The budget started July 1 of this year, but was only approved Monday following the late passage of the state budget.
The school system’s finance director Jan Zachary presented the budget to the board after months of tension over state legislators’ decisions regarding education funding.
In total, Elkin’s school budget revenue equals $11,810,502.89. The number is slightly higher than the 2012-13 budget of $11,656,922.
The state provided $7,327,268, up from $7,223,400 in 2012-13.
Federal sources dropped from $1,274,581 to $1,066,373.89.
A large portion of the decrease in federal funding comes from the loss of ARRA money.
ARRA - the American Recovery and Reinvestment Act of 2009 - was a federal stimulus plan tasked with offsetting school systems for their loss of state funds in the Great Recession. The money was given to school systems like ECS to prevent teacher loss in the budget.
The money was given to be spent at the system’s discretion over the course of two years. That money has been spent, the last of it in August and September of 2012.
Local sources provided $2,829,312, up from $2,573,789 in 2012-13.
The budget comes after the state legislature failed to pass its own budget by the June 30 deadline.
The $20.6 billion biannual North Carolina budget was finally agreed on in late July and signed by Gov. Pat McCrory. Although the budget is slated for two years the General Assembly usually makes adjustments to it each year.
During the Aug. 26 ECS board of education meeting Aprille Bell of Dixon Hughes Goodman presented the audit report for the school system.
The Charlotte-based firm is made up of certified accountants and advisers who work with a number of client types, including schools, to perform audits and check the financial situations of the books.
Bell made a PowerPoint presentation to the board explaining the recent 2012-13 audit.
Elkin City Schools had no discrepancies in the school system’s books.
The news came after the board recognized the members of the finance department for their eighth consecutive year for winning the State Board of Education Award for Excellence in Financial Management.
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