The Elizabethton Board of Education has approved a 2014-2015 budget that includes close to $5 million from bond sales for the next round of new football stadium, music room and classrooms at Elizabethton High School.
Director of Schools Ed Alexander commended finance department staff for presenting a complete, balanced budget for the upcoming fiscal year.
The Elizabethton City School system’s general fund showed a balance of $24,920,904, which is down 2.24 percent from last year’s $25,493,117. The 2.24 percent decrease equaled $572,213.
The system’s total budget had a 3.15 percent decrease from $28,190,107 to $27,303,287; a difference of $886,820.
The federal projects fund had an 18 percent decrease to $1,431,033 from $1,746,189 in the 2013-2014 fiscal year. The difference comes from the end of the Race to the Top funds, which will stop on June 30.
The school nutrition budget climbed by $540, or .06 percent. The school nutrition budget increased to $951,350 from $950,810. A change for the school nutrition fund comes from all three elementary schools participation in a program that provides free breakfast and lunch to all students.
Estimated revenues and reserves for the school system were $24,920,904 and expenditures were at $20,920,904.
The main source of revenue for the schools comes from the state revenue, $12,413,484; followed by budgeted reserves for $4,970,778; local taxes for $4,825,350 and city allocation for $2,332,000.
The two largest expenditures were salary and benefits totaling $17,094,544, and next was the capital outlay for $4,900,000.
The system has seen a growth in Basic Education Program funding because of an increase in average daily attendance. The average daily attendance was 1,971 in 2006-07, but has shown continued growth, until it reached 2,425 this year.
That growth has resulted in increases in the state’s BEP funding, going from $7.8 million in 2006-2007 to an estimated $11.5 million next fiscal year.
The per pupil expenditure for Elizabethton is $9,217. That is slightly below the state average of $9,303. Carter County’s per pupil expenditure is $8,820. Washington County’s is $8,258.
The budget did include an overall addition of three employee positions. New positions include a certified guidance counselor at Elizabethton High School and the addition of one full-time athletic assistant. One part-time position, a transition school-to-work employee, was made full-time.
Nine positions were eliminated from the budget. These were six Race to the Top interventionalists; two part-time Early Learning Center teaching assistants and one part-time ELC custodian.