2. Review 2010-11 Tentative Budget for all Funds
Dr. Copeland presented the Tentative 2010-2011 Annual Budget to the Board. The following topics were reviewed: TRIM and budgeting time lines, FEFP 2nd Calculation/Final Calculation, decrease in Lottery funds and the significant decrease in Assessed Value. The majority of the presentation covered Fund 100 - General Fund. A significant amount of the General fund goes to salaries and benefits. In 2008-2009 salaries and benefits represented 81.64%; in 2009-2010 - 87.94% and in 2010-2011 it is projected at 86.40%.
Mike Elliott reviewed Capital Outlay and Debt Service Funds. These funds come from the sale of vehicle tags. It is a bonded fund source that is categorical and it must be used toward the construction of or addition to an existing facility. Impact Fees were also discussed.
Wimberly Brackett, Director of School Food and Nutrition Services, explained that the 2010-2011 year fund balance will likely decrease due to increase in milk prices and free and reduced participation, along with large purchases to upgrade several kitchens. Since the year 2000, there has been an increase in meal prices of only 40 cents, a 25-30% increase over the past decade with, a supply cost increase of 235%. Free and reduced participation increased from 24% two years ago to 38% today. Approved prices for 2010-2011 are $1.65 for elementary student lunch and $2.00 for secondary student lunch.
Roni Campbell, Acct./Internal Accts. Coordinator, reviewed the following funds: 420-Special Revenue Fund - Contracted Programs which are IDEA, Title I, Safe & Drug Free Schools and Medicaid. 431-State Fiscal Stabilization Fund - this fund represents stimulus funds, allocations funded are guidance counselors and resource teachers. 432-American Recovery and Reinvestment Act Fund - these are stimulus funds with a targeted purpose. They are Title I and IDEA funds.
Dr. Copeland explained Fund 711 - Internal Service Fund - this fund accounts for the district's individual Self-Insurance plans for property and casualty.
The next meeting will be on Thursday, July 15, 2010, to bring the Required Local Effort and request the authority to advertise the Tentative 2010-2011 Annual Budget.