ESCANABA - The Escanaba School Board adopted the district's budget for the fiscal year 2013-14. The action was taken at a budget hearing and meeting held Monday.The board adopted a general fund resolution for the 2013-14 fiscal year that shows revenues of $21,207,728 and expenditures of $21,363,535. This would leave a projected unreserved fund balance on June 30, 2014, of $77,854.
"If you look at the audited fund balance of July 1, 2012, we had $1,283,208," noted Sue Furney, the district's director of business services, during a budget presentation at the meeting. "We are estimating the use of that in 2012-13 of $1,049,547."
This would leave a projected fund balance on June 30, 2013, of $233,661, though a portion of that would be spent to operate during the upcoming school year.
"We're expecting at this point in time to need to use $155,807 (of the general fund) for next year, which would leave $77,854, so we know we have additional reductions or increases in revenue that have to occur as we move forward through the school year," said Furney.
The board unanimously approved the general fund resolution 6-0. Board Secretary Cathy Wilson was absent from the meeting.
Board members also unanimously approved the 2013-14 hot lunch fund resolution, which includes revenues in the amount of $1,170,575 and expenditures totaling $1,234,589. According to Furney, this would leave a projected total fund balance of $23,257 on June 30, 2014, of which $15,000 is the "un-spendable" reserved fund balance - made up of the projected inventory at hand at the end of the year - while the remaining $8,257 makes up the unreserved fund balance.