The Krum school board has scheduled a special meeting Wednesday to consider adoption of the 2013-14 fiscal budget.
District officials are proposing general fund expenses that total nearly $18.2 million. The district plans to use $1 million in reserves this summer to cover construction costs of four new tennis courts and the driveway relocation of Bobcat Boulevard so that it lines up with Evans Street and makes traffic flow smoother, Superintendent Cody Carroll said. The projects are expected to be completed prior to the school year starting in August, Carroll said.
“This year’s budget increased by about $1.3 million,” he said.
Carroll said the main difference in the 2012-13 budget and what’s being proposed for 2013-14 is that enrollment grew by about 100 students in the last year. To accommodate the growth, 22 new classroom teachers are being added, leading to added budget expenses, he said. The district has also added a special education coordinator for the district and a new family and consumer science program at the high school.
“I feel that the board and our business department have worked very diligently to present a budget that meets the needs of our district,” Carroll said. “The growth we are experiencing presents many changes, and we are constantly looking for ways to best utilize our funds. The previous administrations here at Krum ISD have done a tremendous job in building needed facilities and still maintaining a healthy fund balance. We strive to continue that trend in meeting the needs of a growing district and preparing fiscally for the challenges ahead.”
The Krum school board must adopt its 2013-14 budget before July 1, when the new fiscal year begins.
In the overall budget proposal, district officials are projecting a balanced budget for the food services fund and a $163,820 surplus in the debt service fund. Food services expenses are projected to total more than $790,000 and debt expenses are projected to cost more than $3.19 million.
Carroll said it’s being proposed to the school board that the district increase its tax rate by 2 cents for the 2013-14 year, from $1.52 per $100 valuation to $1.54 per $100 valuation. The increase is reflected on the interest and sinking side, the revenue the district collects to pay debt obligations. An increase in the debt service tax rate from 48 cents to 50 cents is also being proposed to allow the district to pay off some of its debt and free up capacity to accommodate future growth, Carroll said.
The school board is slated to set the tax rate on Aug. 14, Carroll said.
Wednesday’s special meeting will take place at 6:30 p.m. at the district’s administration building, 1200 Bobcat Blvd. in Krum.
BRITNEY TABOR can be reached at 940-566-6876 and via Twitter at @BritneyTabor.