Stephens Co. BOE Approves FY 2014 Budget
The Stephens County Board of Education puts its final stamp of approval on its Fiscal Year 2014 budget.
The school board unanimously approved the final budget at its meeting Tuesday.
The nearly $32 million budget shows no change from the tentative budget approved last month.
Next year’s budget is slightly smaller than the current Fiscal Year budget of $32.1 million.
The Fiscal Year 2014 budget projects the millage rate to remain the same and also does not have any furlough days for staff built into the budget.
According to Stephens County School Superintendent Sherrie Whiten, the school system projected a drop in local property tax revenue due to a 3 percent decrease in the tax digest, as well as a 10 percent drop in federal funding.
Whiten says most of the savings in the budget are coming by not filling a number of positions that are coming open through retirement or people leaving and then moving people around to fill areas where there are needs.
The final approved Fiscal Year 2014 budget does project a slight surplus of just over $41,000 at June 30, 2014.
If that holds, the school system would end next fiscal year with just over $841,000 in estimated unreserved fund balance.
That is an increase from the estimated fund balance on July 1 of this year of $800,000.