October 14, 2010 11:53:00 AM
Oktibbeha County School District officials closed out the books on the 2010 budget year when they approved the final budget in a brief business meeting Wednesday night.
All board members were present, although Curtis Snell was involved via speakerphone. District business manager Verlie Floyd said state law requires school districts to approve the final fiscal year budget by Oct. 15.
"We have to approve the budget from actual expenditures and actual revenues," Floyd said.
Total revues for the district for the 2009-2010 year were $11.68 million and total expenditures were $11.51 million. This left an ending general fund balance as of June 30 of $552,866. State law requires school districts to have at least a 7 percent fund balance closing out this year. Floyd said this general fund balance gives the district an 8 percent cushion.
"This is our budget for 2010," she said.
Cynthia Ward made the motion, seconded by Herman Bush, to accept the budget as presented. The vote was unanimous.
The board approved their consent agenda which contained per diem and travel items. They had no other business, so adjourned until 6 p.m. Nov. 2 when they meet at East Oktibbeha Elementary School.
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