The Three Rivers Community Schools Board of Education has adopted the 2013-2014 Preliminary Budget for the new fiscal year beginning July 1.
The action came Monday evening (June 17) following a public hearing during which there were no citizen comments.
The hearing – held prior to the regular board meeting – included a presentation by Financial Supervisor Dorothy Woodbury in which she offered an overview of the final amended budget for the 2012-2013 year that ends June 30th as well as a similar summary of the proposed budget for 2013-2014.
The budget for the upcoming year projects revenues of $23,781,274 and expenditures of $24, 656,659, thus showing a revenue shortfall of $875,386. (Dorothy Woodbury audio clip – 1:36)
The resolution to adopt the budget also sets various millage levies to support the spending plan:
- 17.7242 mills for operating purposes on all non-homestead and non-qualified agricultural property
- .5 mills for the 2004 debt
- .7 mill for the 2007 bond refunding
- 4.36 mills for the 2008 bond refunding
- .54 mills for the 2012 bond refunding.
The total of the debt retirement levies – at 6.1 mills – is down from 6.4 mills last year.
In addition to the adopting the budget for 2013-2014, the board also adopted the amended budget for 2012-2013, an amended school lunch budget for the current year, and the proposed school lunch budget for 2013-2014.
The final budget for the current year shows a deficit of $415,837. Superintendent Roger Rathburn indicated that the number represents a “worst case scenario” and said, “I do believe we’re going to finish much better than that and, quite possibly, be positive this year.” Woodbury agreed and said, “This is what the paper looks like. It is not what will actually happen.”
The capital outlay portion of the budget for the year now ending shows expenditures of $262,857, reflecting the purchase of three school buses during the year. The capital outlay amount for the upcoming year is pegged at $564,275, a figure related to reconstruction of the tennis courts at the high school, a project that is just now getting underway.
To view the budget resolution adopted Monday evening, click here.