By Graham Sturgeon, staff writer

The Durand Board of Education voted during their Monday, June 29, Committee of the Whole meeting to approve the proposed budget for the 2015-2016 school year. The school district has seen steady growth in their General Fund equity over the past few years and the current 2015-2016 school year is projected to push that number further into the black.

The district will begin the year with an unofficial $692,200 in their General Fund, which is a great improvement from the $223,597 fund equity on July 1, 2013. The district is hopeful to continue that positive momentum through the current school year as they expect to have revenues-over-expenses of $30,807, which would push the General Fund equity to $723,007.

The district will collect 24.7 mills from their tax base, which will total $1,253,285 – 18 of those mills will come from the non-homestead operating millage that is required for the district to receive the full amount of per-pupil state aid, and the other 6.7 mills will come from the 2015 Debt Fund.

The per-pupil amount of state aid the district will receive for the 2015-2016 school year will increase roughly $90 per student, which will generate $128,000 of new revenue. The district is expecting to see their overall enrollment number drop from 1,503 to 1,430, which will mean over $500,000 in lost revenue, but the increase in per-pupil funding will offset some of that loss.

The district has budgeted $13,025,896 in revenue for the year and $12,995,089 in expenses. That would leave the district’s General Fund balance at 5.550 percent of the district’s total revenue, which would be an improvement over their current 5.314 percent.

Durand Board of Education Approves 2015-2016 Budget was last modified: July 6th, 2015 by Karen Elford