The Johnson County School Board talked this year and next year's budget. Hannah Stepenoff has the details.
At Monday's Johnson County School District Board meeting, business manager Matt Ramey had good news as the board was to vote to amend the budget for current fiscal year 2014, and on next year's proposed budget.
Though the board has gone over budget in the current fiscal year in a few areas to the tune of about $500,000, a recent infusion of $1.1 million in unanticipated tax revenue received in late June, has offered the board a unique chance to revisit the budget. The district will enter the school year with a $20.3 million general fund, a $300,000 increase from the 2013-14 school year.
An increase in the county's valuation, which jumped by $73 million, caused the school's tax revenue funding to increase, Ramey said, which means that because the district works through a recapture based funding system excess money that stays in the general fund will be subject to state collection. A recapture district can fund itself through tax revenue, however if they have more than the state's allotted amount in their general fund, those monies are redistributed to other non-recapture districts across the state.
Ramey explained that if the excess funds are re-budgeted out of the general fund, the district will be able to keep more of it. He expects the school will pay $8.8 million in recapture funds to the state in the coming year.
The board also approved the budget for fiscal year 2015. Though the increase in revenue for the coming fiscal year is positive, Ramey said, low interest rates and the estimated decline in the county valuation in the coming years may affect the district's recapture status and possibly decrease budgets in the future. He expects to monitor cash flow closely throughout the coming school year. Over 55 percent of next year's budget will go toward teacher salaries, benefits and school supplies.
Here are a few items in the budget, and what amounts are allotted to them in 2015 (rounded):
A full copy of the 2015 fiscal budget is attached below.