SCHOOL BOARD MEMBERS BURN $1.3 MILLION IN RETIRED BONDS: JACKSON DISTRICT WORKS TOWARD BUDGET BALANCES

JACKSON -- The Jackson School District Board of Education Tuesday adopted a $12.2 million dollar budget that projects black ink this year in all of the district's funds.

The board also took time out from their meeting to burn $1.13 million in retired bonds.

Calling it "a budget that looks toward the future," Business Manager Howard Alexander told the board the budget for the first time is at "a level of comfort."

"Projected receipts and expenditures in our two major funds, the general fund and (teacher fund), are in balance," Alexander said. "We will see an increase in the end-of-year balance in those two funds next July."

Alexander said the new budget reflects the district's healthy financial condition, although he cautioned expenditures must be tightly controlled.

"This condition will remain true if additional expenditures are allowed only after additional revenues are found," he said.

The district's operating tax levy this year remains unchanged at $2.85 per $100 of assessed valuation. Alexander said that of the levy, $2.26 is earmarked for actual education programs and operations.

"The people of the Jackson School District are getting a good education program for their bucks," he added.

Although the district is in solid financial condition, Alexander cautioned that the new budget fails to address the district's additional educational needs that have arisen due to continued enrollment growth.

He also noted the district did not purchase any new school buses last year.

Alexander said budgeting for the district the next few years will be a challenge, because the board must decide whether to use any additional funds for pay raises for teachers and staff salaries or to hire additional staff.

He said the district's staff has had to go through three "belt-tightening" years because of budget constraints.

Alexander said a revision this year in Missouri's foundation formula will provide additional state funding for the Jackson district, which now receives $911 per pupil annually from the state.

The budget projects the general fund to have a July 1, 1993 balance of $1.1 million, while the teacher fund will show a balance of $85,000.

By comparison, the general fund balance at the end of the last fiscal year, June 30, was $875,000. Also, the board last year was forced to transfer money from other funds to the balance the fund that pays teacher salaries and benefits.

The new budget estimates receipts of $11.8 million and expenditures of $12.2 million. Alexander said 60 cents of every $1 in receipts will come from within the school district.

The state will provide 36 percent of the total receipts, while federal funds will provide the remaining 3 percent.

Alexander said there aren't major changes in expenditures in the new budget, but he noted $400,000 was included in the capital projects fund for the acquisition of land and site development for a proposed Middle School.

The retired bonds that were burned represent bonds issued in 1971, 1977 and 1982. The district's bond indebtedness now totals $1.2 million, 1 percent of the maximum allowed.

Alexander said bond indebtedness was at 4 to 5 percent just three or four years ago because of the district's extensive building program. "We pay about $300,000 to $400,000 each year on our debt service," he added.