The Medical Lake School Board heard and approved in unanimous fashion its operating budget for the 2018-19 school year at a special meeting prior to its regular July 24 meeting.
Chad Moss, director of finance, prepared a detailed budget document that delved into all facets of the operation of the district under new guidelines from the state.
But the crucial figures are that it will take an estimated $25.9 million general fund dollars to educate the district’s projected enrollment of 1,850 students. That’s a 25 student increase from the 2017-18 school year.
Revenue, which increased by 11.5 percent — $2.95 million — and is provided by the state ($2.68 million), $391,000 in federal funds and just over $122,000 in local money.
Moss’s report outlined expenditures that increased by 11.7 percent, or $3.05 million. His projection lists a beginning fund balance of $2 million and ending at $1.6 million.
The capital projects budget will begin with $81,079 and after expected revenue of $138,860 and expenses of $210,000 is projected to finish the year in the black to the tune of $9,939.
ASB funds will begin their year with $90,000 and end at $87,185. Anticipated ASB revenues are $414,475 with spending at $417,290.
The district’s debt service fund balance begins at $805,000 and finishes at $784,235 with revenue at $1.348 million and expenses coming in at $1.369 million.
The transportation vehicle fund anticipates spending $275,000, but revenues should keep the ending fund balance at just over $210,000.
No members of the public attended the meeting.
Paul Delaney can be reached at [email protected].
Reader Comments(0)