The East Troy Board of Education unanimously voted in favor of accepting the 2013-14 preliminary budget at its meeting Monday night.
According to Katherine Zwirgzdas, East Troy Community School District business manager, at the end of the 2012-13 fiscal year, totals for fund balance came out to $3,127,576, or about 17 percent of the district’s operating budget.
Zwirgzdas said while the preliminary budget doesn’t balance, it’s nothing residents should be concerned about.
According to Zwirgzdas, normally the beginning fund balance will equal the ending fund balance in a proposed budget; revenues will equal expenditures.
However, Zwirgzdas said the district is purposely scheduling two items to go into fund balance.
In the 2012-23 fiscal year, the School District increased its fund balance by about $350,000
The first of the two items is $130,000 in safety projects being rolled over from the 2012-13 budget.
The second is the district’s Health Reimbursement Account (HRA).
According to Zwirgzdas, district officials are hoping the HRA payment will be accomplished with savings from being conservative throughout the fiscal year and ending with a positive variance, making it so they won’t have to dip into the fund balance.
For the complete story, see the Sept. 11 edition of the East Troy Times.
