Budget Update #9 – RSU #38 Budget Workshop, April 12, 2017
To view the video as well as all supporting materials, please go to www.maranacook.org/budget
“Promoting student success in all areas as we strive for academic excellence while maintaining fiscal responsibility”
Throughout the FY18 Budget process the RSU #38 School Board has been anticipating at least a 9% increase in the cost of health benefits, and has included that amount in the expenditure budget. On April 7 we received word that our actual increase will be 0%. This is wonderful news as it allowed us to reduce the FY18 expenditure budget by $169,507. As a result of that savings our FY18 expenditure budget is now $17,212,908, an increase over FY17 of 4.39% rather than the previously anticipated 5.42%. The change is reflected in the Version 3 General Fund School Summary Budget.
In addition, the latest carry forward report indicates that the carry forward amount will be $500,000, rather than the previously anticipated amount of $450,000, due to our early budget freeze, adding $50,000 to our anticipated revenues. This is reflected on the Version 3 Draft Revenue Sheet. With the reduced expenditure budget and the increase in revenues there is a reduction in the total local funds needed to be raised by our towns of $219,507. The impact of these two amounts is presented on the Local Dollar Sheet.
At the April 12 RSU #38 School Board meeting the Board approved the FY18 budget of $17,212,908. Citizens will have the opportunity to vote on this proposed budget on May 17, 2017 at 7:00 p.m. at the Annual Budget Meeting which will be held at Maranacook Community High School. The budget referendum will be held on June 13, 2017 at town voting places.
Opportunities for citizen comments and questions are also available on the district website (http://www.maranacook.org/) on the budget link under Budget 2016-2017, Submit Budget Questions or Comments.
Donna H. Wolfrom, Ed.D.
Superintendent of School