LMSD provides projected budget at hearing

From staff and press reports

 

The Louisville Municipal School Board held its annual budge hearing June 14 with a small crowd and four of the five trustee members.

Tracy Luke, LMSD business manager, reviewed the 2013-2014 budget. Luke outlined the planned expenditures for the year and the planned funds to come into the school district.

Luke opened with her powerpoint presentation outlining that the board and district “concentrates on education, feeding, transporting and providing shelter and safety for 2,822 students.

Luke noted that the district should collect $7,142,830 in local revenue (mainly from ad valorem taxes), $13,418,659 from State funds, $5,295,702 in federal funds and $491,5oo in Sixteen Section land funds. This makes the total projected revenue for the district for the upcoming year at $26,348,691.

Luke noted that the state funding was up almost $1.4 million but most of the increase was mainly funding to cover the funding of personnels’ retirement.

Luke noted that the district as always continued to focus its funds on the most important part which was student instruction.

Instruction was 56 percent of planned expenditures at $15,026,936. This includes all expenses in the classroom including teachers’ salaries and benefits.

Support services were at 35 percent ($9,285,548) which includes staff who aid students such as counselors as well as staff development, Non instructional at 7 percent ($1,954,164) which includes cafeteria food purchases, and 16th section at .5 percent ($129,0808) which includes timber management.

Another 1.5 percent ($483,174) will good toward debt service.

With projected revenues at $26,348,691 and $26,878,902 in projected expenditures the district is looking at a $530,211 deficit to be draw out of its present fund balance of $9,009,759. This should leave the district with a projected fund balance of $8,479,548.

Luke and Superintendent Dr. William who is retiring June 31 answered several questions with even off budgetry topics discussed.

The attendees did have questions on funds spent to gain parental involvement, funds spent on consultants, P-16 council members question on if the district could provide funding to the council, and what funds were being spent to directly on increasing student performance, along with several other remarks.

The board will need to adopt the budget prior to August and have set a tentative adoption date of June 25, 2013.

Steve Eiland presented a breakdown of the separate budget dollars for Special Education which comes mainly through federal funding.

Eiland noted that the Special education budget should be $793,460 with $681,360 from federal dollars and $112,100 carried over from the 2013 budget.

Eiland noted that since the Special Education funds are federal funds that very strict guidelines apply to all funds and how they are spent.

Earlier in the week, on June 11 the Louisville Municipal School District Board tackled a short list of items in its regular monthly meeting.

The board:

•Approved four 16th section leases

• Heard from the Mississippi Forestry Commission

• Approved the claims docket for the previous month along with bank balances and financial reports.

• Removed Dr. Wade, and two principals from all bank accounts to add new superintedent and principals upon hiring.

• Discussed the Superintendent Search as board began interviews.

• Set the next regularly scheduled meeting of the Board for July 15 at 5:30 pm.