BOE budget tops $28.2 million

By Staff
Clif Knight, Hartselle Enquirer
Hartselle School Board approved a record $28.2 million operating budget for fiscal 2007-08 at a regular meeting Monday night after conducting a second public review. The first review was held Aug. 2.
The new budget anticipates that the school system will receive revenues totaling $28.29 million while expenditures will amount to $28.2 million, leaving a difference of $87,274. Revenues in the prior year were 8 percent less at $26.12 million while expenditures were 9 percent less at $25.95 million.
The increase in revenues and expenses can be attributed in large part to a state-mandated 7 percent teacher pay increase plus increases in health insurance and retirement costs, according to Serita Tapscott, chief financial officer. Additional revenue from the state took care of higher salaries for the system's 201 teachers who are authorized based on Average Daily Membership (ADM). However, local funds are used to pay 17 additional teachers.
"I feel this budget is a very accurate reflection of our needs," Superintendent Dr. Mike Reed, said, "If you compare year-to-year figures without the increase in salaries and benefits, it's pretty much a wash. One concern I have is the need for more funding to support our local teacher units. The decline we're experiencing will eventually catch up unless steps are taken to reverse the trend."
On the revenue side, the budget anticipates an 11 percent increase from the state, a 5 percent federal drop and a 1 percent local gain. The largest increase in expenditures is expected to occur in capital outlay at 24 percent. General administrative services shows a 14 percent gain and operations and auxiliary services a 12 percent increase.
Tapscott said the budget provides for the school system's reserve fund to increase from $1.8 million to $3.6 million by the end of the fiscal year.
"That's not a guarantee, but I hope it will happen," Reed said. "That's been one of my goals."
The board acted on other matters as follows:
Personnel items approved are listed as follows: