The Warren County R-III School Board of Education went over their end of the year financial report at their July 11 meeting. Board members seemed to be satisfied with the end of the year expenses and revenues. 

At the end of May, R-III ended their fund balance at 39.70% compared to 39.23% the year prior and 13.8% in 2020. Superintendent Gregg Klinginsmith noted that the board had done a great job of raising this number and the district is in a healthy spot. 

“Things are looking very good and very positive toward the end of the year with our finances,” Klinginsmith said. “We’re paying people as much as we can and we’re very, very pleased with where we’re at right now.” 

The end of June report showed that local revenue was up from last year by $2,192,102 and county revenue was up by $51,649. State revenue was down by $745,516. Federal revenue was down by $2,465,413 mostly due to losing COVID funding, which is something most school districts are experiencing at the moment. 

Despite the loss in federal money, revenue was only down by $967,178. 

The district's expenses were up by $1,323,929, but the majority of these increases were seen due to raises in salaries and benefits for the staff. In addition, purchased services decreased and supplies increased. 

This report concluded with the board noting that they have an ending fund balance of $1,421,060 in capital projects. At the meeting, Klinginsmith added this was good and they are seeing the fund balance increase a little bit. 

“We’re not in that mindset of what are we going to cut. Now, we’re looking at program expansions and bringing back some of the things that were eliminated,” Klinginsmith said. 

The districts’ goal is to see in the next 5-8 years an ending fund balance of $2 million dollars.