OCS passes $11.9M budgetPublished 12:04am Friday, September 14, 2012
Opp City Schools passed an $11.9 million budget for the 2012-2013 fiscal year Thursday.
The budget is comparable to last year’s $11.9 million budget, but they system will receive around $300,000 more from the state and will contribute $200,000 more in other local funds than last year.
Officials project a $3.6 million beginning fund balance on Oct. 1, and a $3.78 million ending fund balance on Sept. 30, 2013.
Acco-rding to the most recent financial report, there are currently 3.3 months operating reserve, which equates to $781,000 per month of reserve.
OCS chief financial officer Linda Banks has said previously that the system tries to save around 15 percent from the general fund each year to help build up savings.
A one month operating reserve is required by the state department of education.
OCS is projecting revenues of $7.8 million in state funds; $1.2 million in federal funds; $2.9 from local sources; and $48,500 from other sources.
The system budgeted $5.9 million for instructional services; $1.6 million for instructional support services; $1.4 million for operations and maintenance; $1.2 million in auxiliary services; $630, 245 for general administrative services; $10,000 for capital outlay; $805,000 for debt service; and $301,119 for other expenditures.
State law mandates that school budgets be submitted to the state education department no later than Sept. 15.
In other business, the board voted to approve a transfer of Martha Robbins from part-time bus driver to full-time bus driver.