The Waterford Schools Board of Education received the district’s annual audit report from Yeo & Yeo for the 2010-11 school year at its board meeting on Oct. 20.
The report listed the school district’s general fund revenue for 2010-11 at $109.5 million.
It also stated that 68 percent of the district’s general fund revenue was generated by the state’s public school per-pupil foundation grant allowance ($74.8 million), while 15 percent came from local sources ($16.6 million), 13 percent came from federal sources ($14.1 million) and 4 percent came from interdistrict sources ($4 million).
According to the report, the total general fund revenue translated into around $9,701 per pupil.
The district’s general fund expenditures for the school year totaled $109.1 million.
Fifty-three percent of general fund expenditures, according to the report, went toward salaries ($58 million), while 31 percent went toward employee benefits ($33.6 million), 15 percent went toward supplies and materials ($17.2 million), and 1 percent involved transfers ($265,000).
The total general fund expenditures translated into around $9,668 per pupil, according to the report.
The difference between the district’s revenue and expenditures brought a $368,848 increase to the district’s general fund balance, bringing its total as of June 30, 2011 to approximately $9.3 million, up from $8.95 million on July 1, 2010.
The report also predicted that the unassigned fund balance will dip to about $5.2 million in 2012.
Yeo & Yeo also cited a dip in the district’s student population.
The preliminary student count on Oct. 5 was 11,103 and the February 2011 count was 11,113, making the blended count for the 2011-12 school year approximately 11,104.
Waterford Schools also measured its head count at 11,275 in September 2010 and 11,322 in February 2010.