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Projected budget for 2012-13 school year released ahead of Friday's public hearing

Morris Jeff’s proposed budget for 2012-13 anticipates a bigger school and correspondingly higher costs. With at least 60 additional students expected to enroll next fall, revenues are projected to jump by $500,000 to $3 million while expenses rise by $400,000, also to $3 million

With the incoming pre-kindergarten class and expansion to fourth grade, next year’s student count is projected to hit 335. Of these students, 275 will be in kindergarten and above. That will increase per-student funding from $1.7 million to $2.3 million under the state’s Minimum Foundation Program. MFP funding will account for 77 percent of the school’s revenue next year – up from 69 percent – but does not cover pre-k students.

Tempering this swell in gross MFP funding is a $140,000 drop in funds from the Public Charter School Program, in support of continuing operations.

Along with more students, the budget projects an increase in salaries, from $1.3 million to $1.6 million. Staff benefits will rise from from $373,605 to $473,519. Salaries account for about a third of overall school expenses.

Insurance expenses will more than double for the upcoming year, rising from $21,217 to $47,936.

Despite the growing student body, the school plans to cut its outlay for  materials and supplies from $148,625 to $83,759.

With the school on pace to end the current year with a deficit of $107,948, the projected budget sets aside $78,850 in excess revenue to rebuild the school’s  fund balance.

A public hearing on the budget is scheduled at the school on  May 24 at 5 p.m.

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