Demopolis BOE approves 2017-18 budget
Published 8:25 am Tuesday, September 19, 2017
Following its second public hearing on Monday, the Demopolis Board of Education approved the system’s 2017-2018 school year budget.
During a presentation on the budget, the budget estimates that it will bring in just under $20.3 million in revenue with expenditure over $22.3 million during the 2017-2018 school year. With a beginning balance just over $5.8 million, the system projects to have a fund balance near $3.9 million by Sept. 30, 2018. This will be the fifth consecutive year that expenditures will be higher than revenue.
Addressing the shortfall in revenue to expenditures, board member Olen Kerby pointed out that the budget looked similar last year and yet still came in under expenditure estimates.
DCSS Chief Financial Officer Evelyn James, who gave the budget presentation, said it is better to plan on spending the money as opposed to projecting a surplus only to spend more than projected.
The information provided during the hearing shows a decrease of state-funded units from 143.38 to 143.06. There will be a budget adjustment in January when final numbers from the last school year become available.