A new spending plan for 2011-12 was unanimously approved June 29 by the Wright City R-II School Board. Board members said they are pleased with the new budget, which went into effect July 1. The district estimates current fiscal year expenditures to be at $16.3 million, with estimated revenues coming in at $15.8 million, both of which are significantly less than fiscal year 2010-2011, where the district saw expenditures and revenues come in at $26.1 million and $25.1 million, respectively. Superintendent Dr. Chris Gaines said although both revenues and expenditures are substantially less than a year ago stability is key when dealing with budgets. "If we go back a year ago and we're preparing for the budget, we had made some cuts," he said. "People are preparing for the worst and we're preparing for the middle. By ending the budget better this year, we won't have to make as many cuts for the fiscal year 2012-2013 or not any at all. We're in a lot better spot. "On the operational side, we're in the black and on the debt side, we're in the red. With our capital improvement projects we're in the red because we had received revenue in the prior year and for things like the ballfield (improvements) and high school air conditioning, we're still making payments finishing those things out." The district is also estimating this year's operating fund balances to be 25 percent, compared to 21 percent last year. "That will change," Gaines said. "The budget is a living document. It's good to be steady and we're staying in the same range. Historically, balances are going down. Nice and steady is good and we've been steady for a few years and have been able to arrest the decline." According to Gaines, a number of factors led to the district ending in a better position than a year ago. "With the state funding formula, attendance drives money through the formula and with our attendance, we have more kids every day through the formula," he said. Gaines also attributed tax collection rates and less district spending in helping with the budget. "We looked at historical numbers of tax collection rates and they were always a little low historically," he said. "But this year, collections ended up being 100 percent. "For expenses, we held the line on spending," Gaines added. "We budgeted more for unemployment and attorneys' fees, but we didn't have to spend on these." Because of the district's conservative spending, the board also was able to approve step and salary increases for its faculty. A 1.7 percent step increase was given in March for all positions on the district's salary schedule. A first-year teacher's base pay was increased to $32,000 per year. Gaines said administrators not on the salary schedule would receive a pay raise based on a spreadsheet detailing salary ranges for various teaching positions. Also included in the budget is a schedule of improvement projects, the largest of which includes construction on the high school parking lot.