By DEB WUETHRICH
Members of the Tecumseh Public School (TPS) Board approved final budget revisions Monday night for the district’s 2008-2009 budget, with the general fund projected to be $25,378,314. Business and Finance Director Bill Wright said revenue had increased by approximately $258,945 through various local revenue sources and those revisions were incorporated, along with a few expenditure adjustments.
Like other school districts around the state, Tecumseh also had to work in last-minute figures from a recent Senate version of the state aid act for its 2009-2010 budget, also approved Monday night following a public budget hearing, with the general fund projected to be $24,275,528.
The budget includes a reduction of $110 per student, which equates to a projected loss of $341,232, and the loss of categorical funding for declining enrollment of $60,959, which reduces the TPS foundation allowance to $7,206 per student. Wright said the school district also is projecting a decrease of 120 students for the 2009-2010 fiscal year for a projected loss of $828,690, with the projected state aid revenue loss totaling $1,230,881. School districts had expected the state to use federal stimulus funds to shore up the state’s school aid fund, keeping per-pupil aid the same this year, but the state used the funds on the state’s 2008-2009 budget instead.
Wright pointed out that the budget development process began in January 2009 and that a Budget Advisory Committee met several times throughout the school year as part of this process. He said the projected fund equity of $933,974, or 3.77 percent of expenditures, was getting low for what state guidelines like to see.