EPS uses half of fund equity to balance 2013-14 budget
EVART — Expenses are projected to exceed revenue for Evart Public Schools in the 2013-14 school year, and board of education decided Wednesday to cover the difference by using $389,000 from the fund balance.
The board unanimously approved the almost $8.5 million budget for 2013-14. A projected fund balance of about $387,000 will be left at the end of the 2013-2014 school year.
Superintendent Howard Hyde said on June 30, 2012 the district had a fund balance of about $1 million, but the district ran up a deficit of $248,000 in the past school year. At the end of the 2012-13 school year, the fund balance was at $767,706 and that will shrink to $378,000 by the end of
This budget projects a loss of 21 students in 2013-14, which equals a loss of about $149,000 in state aid, based on a per pupil foundation allowance of $7,095. Hyde said the winter count this year showed the district was down only two students, so he’s hopeful that is a good sign.
Hyde said the school will see a $31 per student increase in 2013-14, which will be a $28,000 total increase for the district.