Menu
Sheldon R-8 boards adopts 2016-17 budget
Nevada Daily Mail
If school boards have seasons, then this is budget season. This past Wednesday, in a special meeting at 7 a.m., the Sheldon R-8 board met to approve fund transfers and make final amendments to the 2015-16 budget. The board took most of its time to review and adopt a budget for the 2016-17 school year, which includes a $250 increase to the certified schedule and a 2 percent raise for classified staff.
Missouri school district budgets may be amended throughout the year as necessary but come the close of the fiscal year, a final budget must be submitted to the state. In that final statement, actual expenditures and revenues must align, monies are to be recorded into the proper funds and everything must be tracked, spent and accounted for according to grant requirements.
In his last board meeting as superintendent at Sheldon, Tim Judd began by asking approval for two fund transfers. The first one received unanimous approval and moved $136,911.22 from Fund 1, general or operating fund, to Fund 2, teacher fund. The second transfer moved $35,000 from Fund 1 to Fund 4, capital projects. Michelle Claflin, Gene Leininger, Cody Claflin and Paul Sprenkle voted yes and Jarod Lamb voted no.
"The second transfer is money used for the construction of the greenhouse," explained Judd.
Judd then gave the board a brief review of the current year's budget, asked for questions and concluded by asking for a motion to amend the 2015-16 budget so as to align it with actual expenditures and revenues. This motion received unanimous approval.
Missouri law requires all school board members to receive 16 hours of training within their first 12 months of service but superintendents find it helpful to review school funding basics. As Judd reviewed the major components of the Sheldon 2016-17 budget, he identified major sources of revenue and provided a brief review of the four funds into and from which school funds are accounted.
"Local revenue accounts for 35.42 percent of district revenue," said Judd. "This includes current and delinquent taxes, Proposition C sales tax revenue, fees for participating in student activities and preschool tuition."
"We do receive a small amount of revenue from the county," said Judd. "It accounts for just 3.43 percent of our budget and comes from fines and railroad and utility taxes."
"State revenue accounts for just under half our budget," continued Judd. "A big chunk of that comes from the basic funding formula and then from the small school fund, which is for districts whose average attendance is 350 or less. We also received funds from the Classroom Trust, which is gaming revenue. Then comes the state transportation fund and the one for vocational education," he said.
"Federal funds make up 12.88 percent of our budget," said Judd. "The largest of these is Title I whose funds are to improve the academic achievement of disadvantaged students such as those with low incomes. We also receive federal funds for our breakfast and lunch programs. There's IDEA-Part B, which stands for Individuals with Disabilities Act. Another acronym is REAP which stands for Rural Education Achievement Program. And there's Title II-A which is for improving teacher/principal quality."
At this point, Principal Jason Irwin, who is about to become superintendent looked at the assistant principal, Carolyn Compton and remarked, "I guess it's too late for us."
Compton, who is about to move up to principal retorted, "Speak for yourself."
Judd's budget tutorial continued with a review of the four funds.
Fund 1 is called the General or Operating Fund," said Judd. Out of it comes all utility bills and fuel costs, instructional materials, custodial supplies, along with salaries and benefits for support staff."
"Fund 2 is usually called the Teachers Fund," said Judd. "As the name implies, this fund primarily covers the salaries and benefits for certified staff but it also covers the tuition payments we make to other districts such as for students to attend the Vo-Tech in Nevada."
"Fund 3 is for debt service which thankfully, we have none," continued Judd.
"Fund 4 is for capital projects which usually covers construction of a building or renovation costs," said Judd.
"All told, this budget estimates revenues of $2,038,552 and expenditures of $2,033,546 for a surplus of $5,006," said Judd.
"What's going to happen since our enrollment looks like it will be down by a few?" asked Michelle Claflin.
"The district's safe for this next year but the following year may be tight," said Judd. "But remember, over time we've built up and are carrying into this next year a total of $469,473. On a $2 million budget, that represents a 23 percent reserve which means this district is in pretty good fiscal shape."
The proposed budget received unanimous approval.
Before adjourning the meeting, Jarod Lamb, board president said, "Thank you, Mr. Judd for your years of service."
Board member Gene Leininger said, "I brought a tray of my wife's home-made cinnamon rolls and there's plenty for everyone."
All partook and all enjoyed with several reminding Leininger that July's meeting would likewise be in the morning.
With a twinkle in his eye, Leininger retorted, "Next month, they'll be for sale. The money will go for the school. It all helps!"