Oct 052012

By Linda Kor
The Holbrook School District Governing Board will be reviewing for approval the annual report summary for fiscal year 2012 at their Tuesday, Oct. 9, meeting.
According to District Business Manager Garry McDowell, revenues showed an 11 percent increase over the 2011 revenues. The school district’s budget for the 2012 fiscal year was supported by $3 million in local revenue, $574,402 in county revenue, $8.7 million in state revenue and $3.3 million in federal Impact Aid for a total of approximately $16.8 million after adding in the $1.2 million beginning fund balance.
Information provided by the district shows that, as in previous years, funding for instructional programs continues to be the district’s top priority. “Regular education instruction expenditures increased by 2.8 percent and special education instruction expenditures by 5.6 percent,” McDowell noted.
He went on to explain that the maintenance and operations budget increased by 1.1 percent, while expenditures for classroom site funds and unrestricted capital decreased by 16.7 percent and 17 percent, respectively, reflecting the cuts to K-12 education in Arizona.
Expenditure of $5.3 million in federal funding continues to play a major role in the overall operations of the district. An ending balance of $3.1 million for carryover reflects a concern for potential Impact Aid cuts that could occur in the coming year.