A $35 million balanced budget for the 2006-07 school year was unanimously approved June 27 by the Oxford Board of Education.
The 2006-07 general fund budget lists expenses totaling $35,912,486 and revenues equaling $37,642, 053.
Revenues include $5,312,800 from local sources (property taxes, interest income, etc.); $27,217,757 is from state sources (primary per student monies and grants); $1,544,418 is from federal sources (federal grants, Title One monies, special education monies); $1,838,629 is from other sources (Intermediate School District monies, vocational education monies, etc.).
Assistant Superintendent Ron Franey said the total per-pupil money from the state is higher this year because of the new students expected to attend Oxford schools.
‘It’s about $500,000 in additional revenue from the state because we got the $200 per student…,? Franey said. ‘We’re projecting 82 new students for next year.?
The district’s fund balance for 2006-07 will be $1,729,249.
the largest portion of the budget’s $35,912,486 in expenditures include salaries $19,929,848 (55 percent) and fringe benefits $9,991,055 (28 percent). Other smaller areas include purchase services, supplies and equipment.
Other school budgets for 2006-07 approved by the board include?
The Athletic Fund will expend $636,821 next year. More than half the budget is dedicated to salaries and benefits.
The Cafeteria Fund made $1,184,000 in revenue last year and will carry a fund balance of $176,171 into the next school year.
The Community Service Fund, which is made up of early childhood classes, day care and the Headstart program, will also carry a fund balance of $140,914 into the 2006-07 school year.
Funds available are $1,072,725 and expenditures total $931,811.