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The Lake News Online
  • Construction costs inflate Camdenton R-III expenditures

  • The Camdenton R-III School District officially has a budget for the 2014-2015 school year just in time for the July 1 fiscal year. The board of education approved the proposed budget during a special meeting on Friday, June 27.
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  • The Camdenton R-III School District officially has a budget for the 2014-2015 school year just in time for the July 1 fiscal year. The board of education approved the proposed budget during a special meeting on Friday, June 27.
    Superintendent Tim Hadfield compared the upcoming school year's budget with the 2013-2014 budget.
    "The major difference in the budget is the inclusion of construction costs for Osage Beach Elementary and Hurricane Deck Elementary.  The majority of the bond revenue was realized in Fiscal Year 2014 while most of the construction costs will occur in Fiscal Year 2015," Hadfield said.
    For 2014-2015, the district proposes a total of $50,512,516 for receipts which is a $22,240,394 decrease from the 2013-2014 budget. Expenditures for upcoming school year are a $9,230,590 increase from last year totaling $75,376,275.
    The total levy will remain the same at $2.87 per one hundred dollars of assessed valuation. The budget documents note that the new budget decreased the capital projects levy by 10 cents from the preliminary budget and now have 5 cents in the fund. An operating levy of $2.56 as levied for operations was budgeted. A $2.75 levy is permitted under the Missouri Constitution.
    The budget also includes a debt service levy set at 31 cents per $100 of assessed valuation. The amount to be paid for the debt service principal is set to be $210,000 with interest payments to total $$2,547,476. The district does not have any lease payments included in the budget for facilities. The current bond indebtedness is $61,305,000.
    The upcoming budget also includes $585,800 for maintenance and repair of all the equipment in the district including supplies such as copiers and computers. Paper costs are estimated at $57,100 while $453,000 is provided for computer hardware.
    The district will soon be the home to eight new buses costing the district $680,000.
    Due to construction in the district, the budget also includes $135,000 for architectural fees.
    The district still has to pay $2,327,776 in interest on outstanding bonds, $700,000 for bonded indebtedness-principal and $3,000 in administrative fees for bond and interest payments. The budget assumes that the district will pay all of those items during the 2014-2015 school year.
    The district is expected to receive revenue from other districts such as Career and Technical Education funds from Macks Creek, Climax Springs and School of the Osage to total $100,000 and tuition for students assigned to the Juvenile Detention Center who reside in other school districts to total $5,000.
     "I would add that our budget continues to grow tighter and tighter.  Flat local revenues and uncertainty of state funding make budgeting challenging," Hadfield added.

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