Director of Finance Randy Cutright presented the tentative budget to members of the Scott County Board of Education on Tuesday, May 30, 2017. Cutright shared a breakdown of the district’s $96,266,762.39 proposed budget for 2017-2018 in the second of three formal reviews.
The general fund totals $60,444,224.61 with the balance of $35,822,537.78 allocated in the Special Revenue Fund, Capital Outlay Fund, Building Fund, Debt Service Fund, Food Service Fund, Enterprise Fund (afterschool programs), and Trust Fund.
“This is a balanced and conservative budget,” stated Dr. Kevin Hub, Superintendent of Scott County Schools. “We appreciate the work of Mr. Cutright and his staff as we work to reduce operating expenses and plan for the long term needs of our growing district.”
Funding to balance the district’s general fund budget include local, state, and federal sources. Local revenue accounts for 45.8% of budgeted receipts. Sources include real and personal property, motor vehicle, utility, and occupational license taxes and earnings on investments.
State revenue accounts for 52% of the tentative general fund budget and includes Support Education Excellence in Kentucky (SEEK), vocational transportation reimbursement, and partial reimbursement for national board certification supplements for teachers.
A breakdown of the general fund budget includes allocations of $43,042,559 for instruction, student support, instructional staff support, and school administration; $6,218,436 for plant operations and maintenance; and $4,661,620 for student transportation. The general fund total also includes $2,440,809.58 for district administrative and business support services; $275,563.96 for debt services; and $196,600 for KETS and summer enrichment program match.
The budget includes a contingency reserve of $3,607,734. Action will be taken on the working budget in September.