Budget approved: Cash reserves remain strong

Board adopts 2011-12 budget
District cash reserves remain strong

School board members approved the 2011-2012 budget during yesterday's school board meeting. District Chief Financial Officer Pat Johnston reported the General Fund budget is based on $60,401,441 in revenue and $62,091,263 in expenditures.

Despite dipping into reserves to balance the General Fund budget, the district will maintain an ending fund balance of $6,120,571 or a 9.8 percent reserve. Johnston said the district faced revenue reduction of $529,050 for this fiscal year. She said Governor Gregoire has hinted additional mid-year cuts could come if the economic forecast does not improve.

The district will not see any staff cuts or significant program changes. Johnston said spending reduction efforts the past several years and increased student enrollment in recent years has helped the district weather the global recession.

The district is budgeting for 100 more students in 2011-12. The district has grown more than 300 students in the past five years, Johnston said