Troup County Board of Education on Thursday is expected to tentatively adopt a general fund budget for the 2013 fiscal year with a projected $1.2 million deficit.
Schools Chief Financial Officer Don Miller said during Monday’s Board of Education caucus meeting that revenues for the 2013 fiscal year, which begins in July, will suffer a $2.26 million drop from state funding sources. Some local sources also will be less than the current fiscal year, but a $660,485 increase in local taxes – which Miller credited to Kia-related industries, mostly supplier Powertech’s tax abatement dropping from 95 percent to 50 percent – is expected to put total revenue at about $1.7 million below the current year.
Expenses are expected to be about $3.5 million less than this year’s budget, the majority from an about $2.8 million reduction in instructional costs. Miller said instruction will still account for 63.8 percent of the overall budget.
Fine arts activities, like trips and guest speakers, which cost $38,605 in the current year, will be cut, Miller said.
The school system is predicting about $96.4 million in revenue and $97.6 million in expenses, for a $1.2 million deficit. The difference will come from the system’s reserve, which will put it at a projected $11.6 million.
Miller said he is still working with the county on its tax digest, which can help predict next year’s collections and state funding stance. The school system also still needs to deal with its quality basic education – QBE – funds from the state, which were affected by the erroneous higher ranking of the county’s wealth index that caused problems for its equalization funding earlier this year.
“A lot of the percentages are in line with what we were projecting,” Miller said of the current budget. “Right now we appear to be on track with where we thought we would be.”
The board also is expected to vote on tentatively adopting a food service budget with a projected $142,612 deficit.
If the board tentatively adopts the budgets Thursday, staff will “fine tune” the projections and the board will give vote on the final budgets at its June meeting.
Some other items the board is expected to take action on Thursday are:
•A 30-month contract with Dye’s Dust Control for mat and mop service at a total cost of 66,967.60.
•A renewal of ARAMARK custodial management services for a total cost of 404,862.
•A yearly contract for $50,000 to pay for a school resource officer for Callaway High School.
•Approving vendor Mauldin & Jenkins CPA, LLC to perform the fiscal year 2012 financial audit for $46,000.
•An annual license agreement with Software Systems Unlimited Inc. for its accounting system at a cost of $48,550.
•Paying $46,503.51 to West Georgia RESA to cover the second half of the 2011-2012 school year salary for an exceptional education teacher and an aide for the Burwell Center/Callaway Adolescent Program for psychoeducational services.