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THIS PAGE SPONSORED BY PETERSON ANTHONY INSURANCE
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06/13/2012
THE FAIRMONT SCHOOL BOARD HAS APPROVED HOLDING AN OPERATING LEVY REFERENDUM VOTE ON GENERAL ELECTION DAY THIS YEAR. THE BOARD IS PROPOSING REPLACING THE 500 DOLLAR PER PUPIL LEVY THAT EXPIRES NEXT YEAR WITH A 950 DOLLAR PER PUPIL LEVY THAT WOULD LAST FOR FIVE YEARS. BUDGET PROJECTIONS SHOW THAT FAILURE TO INCREASE THE OPERATING LEVY WILL REQUIRE THE SCHOOL BOARD TO MAKE 750,000 DOLLARS IN PROGRAM AND BUDGET REDUCTIONS PRIOR TO THE 2013-14 SCHOOL YEAR. A 1.8 MILLION DOLLAR REDUCTION FIGURE IS PROJECTED FOR THE 2014-15 SCHOOL YEAR IF THE LEVY IS NOT INCREASED.
SUPT. JOE BROWN REITERATED THAT ANY MONEY FROM A REFERENDUM PASSED THIS YEAR WILL NOT BE AVAILABLE TO THE DISTRICT UNTIL A YEAR LATER. ELECTION DAY IS NOV. 6 THIS YEAR.
THE SCHOOL DISTRICT REVISED BUDGET FOR THIS YEAR SHOWED EXPENDITURES EXCEEDING REVENUES BY 4.746 MILLION DOLLARS FOR ALL FUNDS THIS YEAR. THE PRELIMINARY BUDGET FOR 2012-13 SHOWS EXPENDITURES EXCEEDING REVENUES BY 1.933 MILLION DOLLARS IN ALL FUNDS WITH AN UNASSIGNED AMOUNT IN THE GENERAL FUND OF 1.201 MILLION WHICH IS ENOUGH OPERATING CAPITAL FOR ABOUT 26 DAYS- MUCH LESS THAN AUDITORS SUGGEST FOR A RESERVE ACCOUNT.
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ROD HALVORSEN
© 2010 KSUM.
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