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Board unanimously approves revisions to 2000-2001 budget
Final revisions to the 2000-2001 Douglas County School District budget were approved unanimously Oct. 3 by the board of education.
By By: Tom Herman
Final revisions to the 2000-2001 Douglas County School District budget were approved unanimously Oct. 3 by the board of education.
School districts are required to submit their upcoming year budgets by June 30 each year, but revisions are allowed. The approved changes brought the budget to $315,063,181, compared with the $314,375,345 budget approved in June.
The school district operates on revenue from local property taxes (40 percent), state aid (51 percent) and other local revenue such as license plate taxes (9 percent).
The changes were made in the general fund expenses and revenues, trust funds and bond funds. The general fund, which is the largest fund, includes operating costs such as salaries and is budgeted at $196,032,571.
The general fund changes were in three accounts. Interest income decreased by $125,000, tax abatements decreased by $319,625 and local sources of income increased by $450,000 in the revised budget.
Expenses in the fund changed in individual accounts, but the net change was $5,375.
The ending general fund balance was $998,135 more than it was a year ago. The district policy is to maintain a reserve of 6 percent of the general fund budget balance. The $12,114,647 reserve budgeted is more than 6 percent.
A reserve of 3 percent to meet the Taxpayers Bill of Rights requirement was budgeted at $5,709,678. Bond redemption was increased by $500,000, and the trust and agency fund decreased by $500,000. These were accounting changes to properly reflect the fund balances, school district officials said.
Because of increased employee insurance costs, union negotiations and three new employees, the risk related activity fund was increased by $687,836.
As part of the consent agenda, a new child-care fund was established in the budget for the 1999-2000 period on a retroactive basis.
The board of education approved a $3 million base fund with $700,000 transferred from the general fund, which was the accumulated balance from the child-care centers in previous years.
The income and expenses of this fund offset each other. The change was made to move the child-care income out of the general fund.
"The child care is really an enterprise fund," said Eric Conrad, budget director. "The revenues offset the expenses, making it self-supporting. It, therefore, doesn't belong in the general fund."
School districts are required to submit their upcoming year budgets by June 30 each year, but revisions are allowed. The approved changes brought the budget to $315,063,181, compared with the $314,375,345 budget approved in June.
The school district operates on revenue from local property taxes (40 percent), state aid (51 percent) and other local revenue such as license plate taxes (9 percent).
The changes were made in the general fund expenses and revenues, trust funds and bond funds. The general fund, which is the largest fund, includes operating costs such as salaries and is budgeted at $196,032,571.
The general fund changes were in three accounts. Interest income decreased by $125,000, tax abatements decreased by $319,625 and local sources of income increased by $450,000 in the revised budget.
Expenses in the fund changed in individual accounts, but the net change was $5,375.
The ending general fund balance was $998,135 more than it was a year ago. The district policy is to maintain a reserve of 6 percent of the general fund budget balance. The $12,114,647 reserve budgeted is more than 6 percent.
A reserve of 3 percent to meet the Taxpayers Bill of Rights requirement was budgeted at $5,709,678. Bond redemption was increased by $500,000, and the trust and agency fund decreased by $500,000. These were accounting changes to properly reflect the fund balances, school district officials said.
Because of increased employee insurance costs, union negotiations and three new employees, the risk related activity fund was increased by $687,836.
As part of the consent agenda, a new child-care fund was established in the budget for the 1999-2000 period on a retroactive basis.
The board of education approved a $3 million base fund with $700,000 transferred from the general fund, which was the accumulated balance from the child-care centers in previous years.
The income and expenses of this fund offset each other. The change was made to move the child-care income out of the general fund.
"The child care is really an enterprise fund," said Eric Conrad, budget director. "The revenues offset the expenses, making it self-supporting. It, therefore, doesn't belong in the general fund."
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