BOE approves 2013-2014 budget (updated)By Emily Beckett Published 10:20pm Tuesday, September 17, 2013
The Chilton County Board of Education approved Tuesday a proposed budget of $82 million for Fiscal Year 2013–2014 to be submitted to the state for approval.
The board has until June 2014 to amend the budget for the new fiscal year, which starts Oct. 1 and ends Sept. 30, 2014.
Chief Financial Officer Steve Yeargan said the board would have about $11,000 more than expected in the general fund, making the budget higher than projected at the board’s first public hearing on the 2013–2014 budget Sept. 5.
The proposed budget Yeargan presented to the board Sept. 5 was $66 million plus a $12.8 million fund balance reserve.
Not all state funds for federal programs such as the Child Nutrition Program had come in by Sept. 5, resulting in a lower estimated fund balance.
“The bottom line changed,” Yeargan said. “We gained from last time, from your reports, $11,153. Bottom line, we increased from last budget, and that’s basically the only change on that except for everything else getting added in.”
The board is still projected to end the fiscal year on Sept. 30, 2014, with more than $4 million in the general fund, as well as maintain a minimum of $4 million in reserve as required by the state to cover operating expenses for a month in case of emergency.