The Trenton R-9 School District will be tightening its financial belt just a bit tighter next year but, if things go according to plan, district finances should continue to be in good shape at the end of the 2010-2011 fiscal year.
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During a special meeting today, the board of education approved the new budget for the R-9 District, which shows revenues exceeding expenditures by just over $36,000. This is $8,000 less than what had been projected when the budget was presented for review by the board earlier this month. Superintendent Becky Albrecht said changes in the funds allocated for Title programs resulted in the reduction. She noted that the transportation funds from the state were cut by some $109,000 for Trenton.
The budget as approved by the board shows anticipated revenues of $14,977,665 and projected expenditures of $14,941,607. The new budget goes into effect on July 1.
As for the year ending on June 30, Mrs. Albrecht said the district was able to have revenues exceed expenditures by some $234,000. She said the savings was due in part to more delinquent taxes being collected than had been budgeted as well as additional funding from the food service program and an extra food service payment.
The board approved the end-of-the-year bills and transfers as well as the amended 2009-2010 budget to show actual revenues and expenditures for the year.
Approval was given to a resolution, allowing the district to issue up to $4 million in bonds for construction of an addition at the Rissler Elementary and Trenton High School along with renovation of the music building and replacement of the HVAC system at the high school. The bonds are being issued at a rate of 2.441 percent.
A portion of the bonds will be paid back with Qualified School Construction Bond Program bonds issued by the state at a rate of .37 percent. The other funding will come through extension of the levy now being used to pay for the middle school, which will now go until 2030. Use of the QSCB bonds is anticipated to save the school district around $1,450,000 in interest, according to Dick Bartow of the district’s bonding company, George K. Baum.
Mrs. Albrecht gave an update on the construction project, with dirt work having been done at both the high school and elementary school. Footings have been poured for both the music room addition and the high school addition. The HVAC units have arrived and duct work inside of the high school building is about two-thirds of the way complete. Director of Supportive Services Dennis Gutshall said the units are to be placed on top of the high school building at 10 a.m. on Wednesday, July 14, weather permitting. The units will be put on the building much as they were when units were placed on the middle school, with a helicopter being used to move the units onto the roof area.
The next meeting of the board of education is scheduled for Tuesday, July 13.