Moline school board members are expected to adopt a budget Monday that projects spending will outpace revenues in the 2012-2013 school year by about $11 million. Last school year the district saw expenditures outpace revenues by about $15 million.|
Monday's meeting, which begins at 6 p.m. at Allendale, 1619 11th Ave., Moline, also will include a public hearing before board members cast their votes.
Dave McDermott, the district's chief financial officer, said the district will again rely on reserve funds, as it has the past three or four years, to cover the deficit.
He anticipates an end-of-year balance of $42.7 million in all district funds, down from $53.5 million during the 2011-2012 school year. An end-of-year balance of $9.9 million is forecast in the education fund, down from $12.7 million in the 2011-2012 school year.
"The big thing is most school districts are in deficit spending, meaning the reason we have balances is to withstand the years where revenues don't meet the expenditures," Mr. McDermott said.
Mr. McDermott said the district is doing its best to weather the current economic storm and live within its means, all while keeping educating the community's children at the top of the priority list.
"The real story is we're asked to do more with less and that is the answer for what do people really need to know about budgets," Mr. McDermott said. "... We've had cuts in our budgets, most of that is capital which really doesn't mean much. We've adjusted our people numbers, less staff over time, and we're trying to sustain our costs the best we can."
At the Aug. 13 meeting, school board members approved rehiring more than 55 teachers for the current school year. This action meant nearly all 74 teachers who were previously reduced-in-force due to district budgetary concerns had been rehired, according to assistant superintendent Lanty McGuire.
Overall spending is projected to be down about $3.6 million, to $113.7 million, but the decrease is due to completion of middle school construction projects. Mr. McDermott said most of that decrease can be attributed to the district completing its middle school construction projects.
The district expects to spend $1 million more in the education fund than last year and about the same in both the operation and maintenance fund and the transportation fund.
Mr. McDermott said school board members have been very cognizant in keeping the tax rate level in these difficult times by adjusting expenditures. He said board members are hopeful they can soon look to maintaining or enhancing educational programming, rather than thinking about reductions, as the state's financial situation improves.
Moline spends 87 cents of every dollar directly on salaries to education students, according to Mr. McDermott. He said the district seeks to provide the best education it can while managing the many financial challenges it faces.
Fiscal year 2011-2012 2012-2013
Education Fund: $72,245,411 $73,038,117
Operation & Maintenance Fund: $7,147,428 $6,922,719
Transportation Fund: $1,534,797 $1,459,087
Other Funds: $36,401,805 $32,267,107
Total Expenditures: $117,329,441 $113,687,030
Property taxes: $41,841,054 $42,192,429
Other local: $19,445,601 $20,014,684 State $33,554,865 $34,716,055
Federal: $7,172,810 $5,903,237
Total Revenues: $102,014,330 $102,826,405
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