North Pike plans $23.3M budget; expenses up

June 28, 2021

http://www.enterprise-journal.com/news/article_c749756a-d605-11eb-b754-f388d6e039dd.html#tncms-source=login

North Pike officials project that expenditures in the coming fiscal year will outstrip the usual revenue sources, but additional federal money should help cover the gap.

The school district’s business manager, Tina Griffin, said the district had a small deficit for the current fiscal year and also projects a deficit of about $800,000 between expected revenues and expenditures for the next budget year.

Total revenue for the coming year is projected at $23.3 million, including $5.2 million from local sources, $13.9 million from the state, $4 million from the federal government and $223,000 from 16th Section land leases.

Local revenue includes a projection of $3.85 million in ad valorem taxes, pending the completion of a new property assessment.

The bulk of the state money, $12.9 million, comes from the Mississippi Adequate Education Program, along with $243,000 in teacher pay raise funding.

Griffin said the MAEP appropriation is up slightly despite a loss of about 171 students due to COVID-19.

The state initiated a hold-harmless provision in funding for such student losses for the current and coming years.

In addition, the district should have approximately $12 million from the second and third rounds of Elementary and Secondary School Emergency Relief funding enacted by Congress to help address issues caused by COVID-19.

Expenditures for the 2021-2022 fiscal year are projected at $24.1 million, three-quarters of which, $17.8 million, covers salaries and benefits.

This district also has a little more than $1 million in supplies and software, $870,000 in bond and 3-mill note repayment, and $856,000 in utilities and maintenance.

The district will take a bit of a hit in insurance premiums for the next year.

In a special called meeting after the budget heating Tuesday, board members considered two quotes on liability insurance.

Board members opted to remain with the Mississippi School Boards Association’s coverage, which totaled almost $269,000, an increase of about $63,000, Griffin said. The only other quote, from Wright Specialty Insurance, was for $392,000.

The board also adopted the district’s student handbooks for the next school year.