A $37.191 million balanced budget for the 2007-08 school year was unanimously approved June 26 by the Oxford Board of Education.
Although the district was faced with $1.592 million in spending increases stemming from items like employee benefits and maintenance, they were able to offset these additions with $449,000 in new revenues, plus $1.45 million in budget reductions.
The district still doesn’t know how much it will receive for the state foundation allowance it receives until the governor and state legislature work out a budget deal. For now, the district is assuming its current rate of $7,343 per pupil.
Reductions in the 2007-08 budget came from teacher retirements, saving the district $395,000, as well as other staffing positions being eliminated without having to layoff any individuals.
Non-staff reductions totaled $746,500 and included energy conservation initiatives, contracted staff savings and a decrease in retirement costs.
New revenue for the district will come from the projected $50,000 from the rental of school facilities by outside groups and the special education county taxes totaling $375,000.
Although the budget also lists an increase in the pay-to-participate fee students are charge, which would bring in $24,000 in new revenue, interim Superintendent Ron Franey said at the meeting that they now ‘do not intend on increasing the athletic fee.?
The budget proposal was written before the board decided at a special meeting June 19 to eliminate the proposed $50 increase.
‘The dollar amounts that were in there, we’ll just find them in some other account,? Franey said.
Pay-to-participate fees for the 2007-08 school year will remain at $150 for high school students and $90 for middle school students.