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Show $9 million budget adopted by schools not yet been officially established for the year. Actual student enrollment is also an estimated figure. Total revenue from all local sources was estimated at $2,638,398, which includes the money from taxation for capital expenditure for bond redemption; redemp-tion; trtal non-revenue funds was listed at $3,405,050; all state funding was estimated at $2,765,367; federal participation par-ticipation was estimated at $270,398 for a total anticipated revenue of $9,079,213. On the expenditure side the Maintenance Main-tenance and Operation Budget was set at $4,378,972. By departments the largest chunk of money will be expended ex-pended on instructional services. Total was set at $2,619,114 including $110,397 for administration; $2,433,426 for sales and instructional staff and an additional $185,688 for textbooks and materials. Additional Teachers The instructional staff budget was increased substancially, approximately ap-proximately a quarter of a million, to meet increased costs and the increases in staffing of at least 12'2 additional teachers for next year. The increase in the teaching staff was necessitated to accomplish a goal of the District - that of reducing the classroom loads, particularly in the primary grade levels. Other M & O budget expenditures include $13,584 for health services; $164,588 for transportation;$377,088 for plant operation; $178,3 for maintenance main-tenance of plant; $771,656 for fixed charges such as health and accident insurance, retirements funds, etc.; A $9,079,213 budget for the fiscal 1977-78 1977-78 year was adopted by the Iron County School Board at the annual budget hearing held Wednesday evening of last week. Of the budget total nearly $4 , million ($3,895,000) is carry-over bonding money that the district has available for capital improvement projects. $3.4 million is the recently approved bonding bon-ding program that is designed to provide a new valley school, an addition ad-dition at the East Elementary, ren-novations ren-novations of the dressing rooms and extension of vocational facilities at Parowan High School, and an addition at Escalante Valley School plus a blacktoping project at South Elementary. Projects now Underway In addition to that amount approximately ap-proximately $495,000 is bonding money being carried over for the addition at South Elementary scheduled for completion prior to the beginning of school this year, and $$310,000 to be used for the swimming pool complex in conjuction with Cedar City Corporation for which construction began this past week. Property tax levied, for which the budget was based, was set at a total of 42.04 mills which included a state required increase in the maintenance and operations budget and eight tenths of a mill increase for capital improvements. im-provements. From that porition of the tax collected from Iron County for M & O it is estimated that the district will receive $1,368,528. To bring the total M & O budget to the level of financing as prescribed through state legislative action, it will be matched with $2,735,367 under the equalization program and other special state funded programs. . Estimated Revenues Superintendent Dr. J. Clair Morris also indicated that the revenue from tax sources is estimated since the assessed valuation of the county has $16,538 for community services including in-cluding the adult education and summer programs and an additional $9,285 for other fixed expenditures. Reserve Funds The board left an undistributed reserve of $68,326 to provide for emergency purposes. Superintendent Morris reported that the state recommends that districts maintain an unincumbered reserve of approximately ap-proximately 5 percent. The $68,326 represents slightly over two percent for Iron County. Special Transporation funding was set at $14,020, but that will in no way meet all of the needs for all pupil transporation. The expenditure item is based on the revenue generated by a quarter of a mill levy authorized for such purposes. The largest portion of the budget is in the area of capital outlay and debt service. Total budgeted in this area was set at $4,943,135. In addition to the physical plant construction expected, it also provides for transporation equipment and other instructional equipment. Food service expenditures for the year have been set at $249,876; Tort Liability expenditures is set at $14,010 and a recreation fund of $58,928 was established with a portion of that to be returned to cities within the county for their use in specific rj&reaiiorireas, Mill Levy Breakdown The mill levy breakdown shows 22.94 for maintenance and operation - the state requires that following re-evaluation re-evaluation that the district, within a three year period, increase the levy to a standard 28 mills as prescribed by state law. The District this year has set the mill levy for special transporation at a quarter of a mill; capital outlay at 17.80, up from 17 mills last year; one quarter of a mill for tort liability and eight tenths of a mill for recreation, bringing the total mill levy for the school district to 42.04. |