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Monday, July 28, 2014
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Planned deficit spending in FY15 budget is responsible move

July 01. 2014 11:22AM
The Brandon Valley School District annual organizational meeting is scheduled for July 14 in the Community Room at the high school. Prior to the official meeting the board will hold a hearing on the proposed FY15 budget beginning at 6 p.m. During the hearing the districtís business manager, Paul Lundberg, will present the budget, which will be followed by an opportunity for people from the community to provide input.
During the organizational meeting itself the board will approve the FY15 budget.

The proposed budget is still being fine-tuned, but here are some of the overall numbers as they stand today. The General Fund budget is being proposed at $20.863 million with other funds adding another $13.764 million for a total of $34.627 million.
This includes the spending for the new intermediate school that is currently under construction. The district continues to grow at an average of about 100 students a year and the revenue and expenditures follows that trend.

The projected budget includes $252,000 in deficit spending in the General Fund, which is a planned reduction of the districtís reserve keeping the reserve at fiscally responsible levels. The deficit spending is for one-time expenditures so it is not a structural deficit.

The overall levy rates, including the $5.9 million bond passed by the voters for the intermediate school, are projected to be relatively stable when compared to last year. The ag levy is projected to be down $0.08/$1,000 while the owner occupied rate and commercial levy increase by $0.15/$1,000 and $0.04/$1,000 respectively. The new valuation in the district is helping keep rates stable even with the new bond issue expense.

The public is welcome to attend the Budget Hearing or listen to the hearing and meeting on cable or the Internet later. Budget documents will be available on the districtís website following adoption of the budget. The documents may also be viewed at the central office during normal office hours.

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