The Board of Education approved an April financial report Tuesday, May 28, that projects the school district will have a $172,697 surplus at the end of the fiscal year, an increase of nearly $100,000 over an earlier estimate.
According to a report given on May 13, the Board of Education approved a March financial report that projected the school district will be $76,169 under budget at year end June 30.
Paul Hendrickson, the district’s business manager, said the projection could change with two district projects — improvements to the water line at Barlow Mountain Elementary School and renovations at East Ridge Middle School — that need additional funding.
According to Mr. Hendrickson’s report, the energy budget is projected to be $114,877, or 5.67%, over budget at year end.
He added that the natural gas connection will be operational this week after a delay in installation that has caused the district to rely heavily on fuel oil.
Some of the items that have help balance out the additional energy expense have been Curriculum and Instructional Improvement and Pupil Personnel Services, which were under budget $46,476 and $112,892, respectively, in April.
In addition, health insurance benefits, reflecting the CIGNA Medical Loss Ratio, are projected to be $127,919, or 0.88%, under budget at year end.
Mr. Hendrickson noted his projection includes the unbudgeted $215,192 that has been spent on additional school security in the wake of Newtown.
In April, the district paid $21,040 for enhanced security. In March, it paid $16,636.
The year end forecast for security is $33,014 over budget.