James M. Singleton Charter School has balanced next year’s $5.46 million budget on an enrollment of 520 students – 80 fewer than were projected last year. And that means anticipated revenues are also being brought to more realistic levels.
“It’s more in line with what we actually had in student count this year,” the school’s chief financial officer, Catrina Reed, explained to board members at their May meeting.
Next year’s anticipated revenue is $848,733 less than the $6.31 million that was budgeted for the year now ending, a drop of 13.45 percent. Per-pupil state allocations, the largest source of revenue in the budget, are projected to be $4.35 million.
The reduced enrollment and per pupil funding will require Singleton to shave expenses, Reed said.
While the allocation for salaries will stay roughly stable, at approximately $2.71 million, benefits will be cut to $668,712, compared to $1.07 million in the school year now ended.
Additional cuts will hit professional and technical services, such as advertising, staff development, student services and the like.
Next year’s proposed budget calls for $185,000 to be spent on those services, down from the $307,277 that was projected for the 2013-14 school year.
About $298,730 less is being budgeted for “other purchased services,” which include student transportation, insurance, food service management and travel.
Projected student transportation costs are being cut to $325,000, a reduction of $120,000 over what was anticipated last year.
The amount budgeted for school supplies, such as materials, utilities, textbooks, etc., is being cut by $181,000.
A public hearing on the budget was held June 12.