The board that runs Edward Hynes Charter announced an 11 percent increase in the first draft of its 2012 – 2013 budget.
The board will hold a public hearing on the budget on Monday, June 11 at 4:30 p.m. at 990 Harrison Avenue.
Next year’s budget is $5.4 million, up from 4.9 million last year.
Most of the revenue is from the state allocated per-pupil fund, about $5.1 million this year, which is 93 percent of the budget. Donations and other income, including student fees and property rental fees, total $88,000 for next year, and expected drop of $41,000 from last year’s budget.
The school expects to raise more revenue from fundraising efforts throughout the school year.
Expenses are expected to rise 7 percent to $5.4 million, from $5.1 million last year.
The majority of budget expenditures for next year are staff salaries and benefits which account for 77 percent of expenses.
Salaries are $3.2 million this year, up $58,000 from last year, or a 2 percent increase. Employee benefits rise 20 percent from last year to $1.1 million this year. An increase in retirement spending accounts for the huge rise in benefit spending.
The school plans to spend $175,000 on materials and supplies, $65,000 less than last year.
Other expenses, utilities, custodial services, repair and maintenance, are relatively flat from last year’s allocations.