From the Superintendent's Desk
From the Superintendent’s Desk
The Green City R-1 Board of Education approved the 2012-2013 budget at the regular monthly meeting on Thursday, June 14, 2012. The FY13 budget exhibits $3.299 million in revenues and $3.338 million in expenditures. While the FY13 budget is in the red, it will most likely end in a positive balance if we have another mild winter.
A look at a six year summary shows revenue at $3.833 million in 2008-2009. With cuts to state and federal revenues, we are expecting $3.299 million in FY13, a decrease of nearly $534,000 since 2008-2009. The district has had to reduce spending to keep a healthy fund balance. In FY09, the district had $3.996 million in expenditures compared to $3.1 million in the 2011-2012 school year.
Reduction in staff has been the biggest decrease in spending while the no-tax increase bond issue passed by voters in April 2009 has had a large impact on reduced costs. Our operating fund has been cut considerably by the reduction in costly repairs and maintenance to the high school. The new heating and cooling system in the high school became operational in August of 2009. Since that time, the district has seen a reduction in overall utilities by around $80,000 for the combined three years.
This savings has a big financial impact on the district both short and long term. Because of these savings, the district is going to place nearly $100,000 of the Classroom Trust revenue (gaming money) in the debt service fund to prepay bonds that are callable in March of 2014. It is possible the district could pay off the 20 year loan in 15 years or less, saving thousands in interest.