EBOE passes $71 million budget

The Enterprise City Schools Board of Education unanimously passed a $71,065,971.48 projected budget for the 2019 fiscal year, which begins on Oct. 1.

The projected budget includes funds received and generated from state, federal local and other financing sources, according to Chief School Financial Officer Brian Stewart.

Expenditures and transfers of funding for the system total $70,787,916.16, making the projected ending balance for the system $18,780,766.50.

Stewart said the system will be pay around $11 million in long term debt services during the next fiscal year, including payments to various bonds.

Stewart said the system will have more funds to save this fiscal year.

"Enrollment was less this year, and funding is based on the prior year, so you'll see.... this year is a unique year because we're funded based on a higher number of students," he said. "We're getting more money, but we have less students, so we're having to staff a little less. We have a little bit more reserve coming this year. Next year, it should level off. "

This year, the system decreased by nine classified employees, as a result of lower enrollment numbers, Stewart said. He also said there was an increase in support staff.

Stewart said current factors affecting this year's budget are insurance remains the same at $800 a month for each employee; retirement increased slightly equaling around $100,000, and unemployment decreased. He also said fuel prices and personnel costs are expected to increase this fiscal year.

Stewart also told the board the system's reserve funds will increase to hold almost three months of operating funds. It is a requirement to have at least one month's operating funds in reserves.

The budget is not final and amendments will be made during the year to reflect actual beginning fund balances of Oct. 1 and to add any carryover federal funds or personnel adjustments, Stewart said.

Stewart said the public is asked to submit any of their input regarding the budget to his office by Monday, Sept. 24, for consideration as part of an amendment.

The board approved the budget after the second of two public budget hearings that were held Sept. 10 and 12.