Lincoln School Board recently approved a $12.6 million budget for 2016-17, projecting to receive $12.9 million in revenues in the coming year.
Budgeted expenditures include $4.6 million for salaries for certified employees, $4.8 million for operations, which includes employee benefits and salaries for most classified employees, maintenance, transportation and athletics, and $805,000 for debt service.
Other projected expenditures in the budget are $853,000 for food service and $843,245 for federal programs, such as Title 1.
Projected revenue includes $6.2 million from state foundation aid (based on student enrollment), $2.8 million from property taxes, about $900,000 from the National School Lunch fund and $368,000 from Title 1 funds.
Mary Ann Spears, superintendent of Lincoln Consolidated School District, said projected revenues are down by $1 million for 2016-17, compared to last year, because of several reasons. Two grant programs expired last year and the school is not receiving any state money for facilities' construction this year.
Spears said she feels good about the budget approved by the board and believes the school district is in good shape financially.
In other business, the School Board agreed to use Excel Energy Group to upgrade the main campus to LED lights. The cost to upgrade will be about $200,000 and the district will probably finance the cost with a short-term loan.
Spears said the lighting upgrade will save the district $50,000 annually in electrical costs. Buildings involved in the upgrade include the middle school and elementary school, administration and auxiliary gyms.
General News on 10/05/2016