TO: Members of the Board of Education
Dr. Sarah Riss FROM: Diane L. Moore DATE: March 8, 2011 RE: 2010/2011 Amended Budget Enclosed please find the first revisions of the 2010/2011 budget. This budget reflects an overall increase to the fund balance of $245,487. The district’s goal is to continue to try to build this fund balance through the end of this fiscal year. All administrators are aware of this goal and will work hard to expend funds only
when necessary to support the instructional programs within the district. The following adjustments are most significant: Revenue Adjustments: | Line Item | Description |
| | 11a VTS tuition | Receiving $7,500 per student | $175,000 | | 14 State Utilities | Final amount received | ($ 45,000)
| | 16 State Aid | Final projection – on formula | $200,000
| | 24 Other State | Additional PAT reductions | ($ 94,959)
| | 26 Title I | Budget amendment submitted | ($ 20,164)
| | 28 Other Federa | No ARRA funds provided | ($ 95,021)
| | TOTAL OPERATING REVENUE ADJUSTMENTS | $130,555
|
Explanation of Major Expenditure Adjustments:| Line Item | Description | | | 41 federal prog | Reduction based upon no ARRA funds | ($ 20,800)
| | 48 legal counsel | Increase in legal issues | $ 30,000
| | 59 insurance | savings in premiums (strong exp.rating) | ($122,332)
| | 63,65,71,73,74,95 | Bldg. Budget transfers | $ 1,010
| | 78 PAT | Actual expenditures | $ 18,284
| | 90 Spec. Prog. | Reduction in federal funding | ($ 28,554)
| 91 Sub. Pay
| Increase in Substitute teacher pay | $ 11,200
| | 98 Furn./Equip. | Ameren Rebate & Ins. payment | ($ 35,000)
| | TOTAL OPERATING EXPENDITURE ADJUSTMENTS = | ($114,932)
|
All operating budget adjustments to the 2010-2011 budget would increase the surplus to $1,762,169. The adjustments to revenues and expenses reflect an overall average 0.002% budget variance. |
