The Warren County R-III School Board recently approved a budget for the district’s 2022-2023 school year. The budget projects about $44.2 million in expenditures and about $41.3 million in revenues.

The district projects to receive more revenues from local, county and state revenues than in fiscal year 2022. However, they are projecting federal revenues to be over $5.2 million less than the budgeted amount in the 2022 fiscal year.

The district is projecting increased expenditures in the general fund, teachers fund and debt service in fiscal year 2023. The budget includes expected increases of over $700,000 for both the general fund and teachers fund from the budgeted amount in fiscal year 2022.

They expect an increase of about $560,000 in debt service. Capital project expenditures are expected to decrease by over $1.4 million.

The district debt service is budgeted to have a deficit this fiscal year. This is due to the district’s annual debt payment increasing this year. However, the payment is expected to drop considerably after this fiscal year. The fiscal year 2023 budget has the district operating at a deficit of about $590,000.

The capital project fund has been greatly decreased by putting 50% of the classroom trust fund money into the capital project fund compared to 100% in the fund last fiscal year. The capital projects budget is essentially neutral, with a surplus of nearly $6,700.

The operations budget has a deficit of over $2.2 million. This is projected to drop the operational fund balance to 16%. District Superintendent Gregg Klinginsmith believes the fund balance will most likely end up higher than 16% due to savings discovered throughout the year and the actual ending fund balance for fiscal year 2022 being much higher than budgeted. The fund balance will most likely be around 27%, Klinginsmith believes.

Under the approved budget, salaries are budgeted to decrease 0.3% from last fiscal year. This is due to the reduction of several one-year positions that were used to support the district through the pandemic. Benefits are budgeted to increase 0.82% compared to last fiscal year.

District officials estimated the ending operational fund balance should be around 33% at the end of the current fiscal year and around 27% at the end of fiscal year 2023.

Projects included in the 2023 fiscal year budget are completing HVAC and roofing as part of Elementary and Secondary School Emergency Relief funds, the food service facility, final payment for the football field, the football field scoreboard, the Blackhawk Middle School floor, lactation rooms, finishing replacement of locks with key fobs and improvements to the high school baseball field.

The ending fund balance at the end of fiscal year 2022 is projected at $12.5 million. The projected fiscal year 2023 ending fund balance is about $9.6 million. The fund balance at the start of the 2022 fiscal year was about $10.6 million. In the district’s most recent fiscal year 2022 budget, they had a surplus of over $3.4 million.