Jackson School District sees higher fund balance

Jackson School District ended this year with $1.58 million more in fund balances than was originally budgeted, leaving room for the purchase of new buses, technology upgrades and additional teachers in next year's budget.

The Jackson School Board approved a $30 million budget for 2005-2006 at a meeting Tuesday night.

The board also approved the teacher salary schedule for next school year, including a 3.63 percent raise in base salary, bringing that amount to $28,500.

Assistant superintendent of finance Jim Welker said the original projections showed a beginning fund balance for 2005-2006 at $5.06 million.

The district will actually begin the new fiscal year July 1 with a fund balance of $6.64 million.

Welker anticipates the district spending $769,600 more than it takes in this year, leaving an ending fund balance for next year at $5.88 million.

That figure represents a fund balance of 8 percent of expenditures. School districts are required to keep at least 3 percent in reserve or risk a financially distressed label.

The additional revenue carrying over from last year allows for the purchase of four school buses, new computers, projectors and other technology throughout the district and the hiring of six teachers to fill positions that were not replaced last year.

"The last several years we've held back," said Welker. "But the balances held pretty strong from last year."