The Stillwater Board of Education got a look at changes to a Fiscal Year 2020 Budget they will soon vote on during a special Tuesday meeting.
Chief Financial Officer Jericah Dawson gave a presentation that reflected increases in bonuses for staff and additional money allotted for classroom funding.
“This is something that has been discussed before. There have been proposals made that seem reasonable. Our job is to make sure that we satisfy the letter of the law in regards to the amount of funds we have available but also to take advantage of some of the opportunities that some changes in the budget might entail,” School board president Bob Graalman said. “These have been studied and I think it’s really a good idea that we make one more stab at explaining it so we can move forward and be pleased with the results.”
The proposed budget reflects revenue at $47,257,260.80 with expenditures at $47,984,389.54 but a beginning fund balance of $6,345,533.23. According to the report, that fund balance of 11.89 percent is used to cover expenses before state payments are delivered and “to help fund future budgets if needs exceed estimated revenues for the year, and for other unanticipated costs.”
Salaries and benefits account for about 89 percent of the total expenditures – those figures are on pace with the last 15 years, which usually hover between 87 and 90 percent.
Increases from the last time the budget was presented included:
• $375,000 allocation increased to $650,000 allocation for mid-year bonus
• $94,050 additional classroom funding allocation ($15/student at all sites)
• $81,690 elementary staffing allocation for second semester
• $141,405 reduction of federal funds carryover for use on IDEA and Indian Ed Programs
• $15,475 in one-time costs for special needs, OSHA and recruiting
A FY21 Expenditure Increase Allocation included:
• $485,000 enhancements (recurring costs)
• $425,000 one-time spend
Superintendent Marc Moore said many conversations with site principals this year during budget discussions focused on class size and day-to-day costs.
“We were able to address those three big items: The bonus, those classroom expenditures that principals didn’t have and then also some hotspots on class sizes, because we’ve had several conversations with assistant principals,” Moore said. “We used a little bit of the formal information from last year, a lot of negotiations were a part of what we heard this summer and then really, just informal conversations with administrators throughout the fall.”