Revised budget for 2010-11 OK'd by school board

With no changes to the proposed revisions that were presented at a meeting last month, the Waterford Schools Board of Education voted last week to approve a revised budget for the 2010-11 school year.

According to the revised budget, the general fund revenue for the 2010-11 school year will now be $109.1 million, which is up from the original amount of $102.2 million expected in the budget that was adopted in June.

Coupled with the almost $9 million in the district’s fund balance, the district will have $118 million to appropriate.

The revised budget also raises the total amount of expenditures to $111.6 million, which is up from the originally adopted amount of $106.4 million.

The district will then dip into its fund balance to make up the difference, leaving $6.4 million in the fund balance on June 30 of this year.

The revised budget also states that the district will have $8.8 million in total revenue and incoming transfers for the school service fund.

Expenditures from the school service fund will also total $8.8 million, going toward expenses including food service, the performing arts centers and the pool and fitness centers.

The revised budget reflects $6.16 million in revenue and expenditures for the district’s special education center program fund, along with $13.2 million in revenue and $12.8 million in expenditures for the debt retirement fund.

The board’s action came on Thursday, March 3.