During the monthly board meeting July 14, Warren County R-III Director of Finance Tony Chance presented the final figures from the fiscal year 2016 budget.“Things turned out very well this year,” said Chance. “We were pleasantly surprised with the revenue from both the local and state. We will have some money to be able to transfer over into our capital projects at the end of the year.”The district ended the year with a balance of $20,880,679.99, having $46,161,577.15 in revenue versus $34,587,494.14 in expenditures.The differential of $11,574,083.01 combined with a beginning fund balance of $9,306,596.98 resulted in the final figure.“As a school district, you’re always obligated to make sure your revenues come in over your expenditures,” said Chance. “We’ve done that and always conservatively budget to make sure that happens at the end of the year.”The district benefited from a significant increase in summer school enrollment numbers after opting to outsource for a second straight year.“We actually took on a summer school program that was contracted out this year and the prior year,” said Chance. “It substantially increased our enrollment for summer school. Since state revenue is based on student attendance, then that in turn increased our revenue this year.”R-II also gained from the refinancing of the Series 2015 bonds.“With the Series 2015 refinancing, obviously that lowered the amount of principal and interest we paid,” said Chance.The district ended the year with $12,289,406.79 in its capital projects fund.School Budget