Phillip Sellers, the accountant for the school board, informed the school board last week that the financial numbers are expected to be in the black.
The school board financial year is from July to June. Sellers informed the school board that nine months into the year, the school board is $2.8 million ahead with three months to go.
Sellers said, however, when the year is over in June, that $2.8 million will shrink to $1 million, which is still positive. It is positive because of the cuts the school board made two years ago.
In 2010, the school board found itself looking at a $7.8 million deficit. Cuts had to be made and the following year, the school board broke even budget wise.
There are a couple of reasons why the school board is projected to be $1 million ahead. Sellers said this year the state gave more MFP (minimum foundation program) funding to the school board than in years past, and sales tax is up from a year ago.
“There is a surplus, but we still have to be conservative,” said Sellers.
They have to be conservative because of next year. Sellers is predicting with the increase in health insurance cost and the projected decrease in MFP funding from the state, the school board will have to be conservative in its spending for next year.