The Calhoun County school system will have its largest budget ever for the 2007-2008 school year, largely because of construction at White Plains Middle School.
Calhoun County Schools’ Chief Financial Officer Bob White presented the first public budget hearing for the 2008 fiscal year at the Calhoun County Board of Education meeting Thursday night. The fiscal year begins Oct. 1.
The school system is slated to spend about $12 million to build a new White Plains Middle School, White said.
The system’s total revenue for the year is projected to be $84.7 million — about $64 million in state funds, $6.4 million in federal funding, and $13.9 million in local funding. The state revenue includes money for a 7 percent teacher pay raise.
With projected expenditures of about $90 million, the school system will spend about $5.5 million more than it is projected to bring in. The system still should finish the year with a balance of about $8 million. The state requires that school systems maintain a minimum reserve of one month’s operating expenses. For the Calhoun County Schools, that’s about $5.5 million.
No comments:
Post a Comment