James M. Singleton Charter School Finance Committee Chair, Ed Shanklin, opened the June 12 public budget hearing at 5:06 PM in front of a small crowd in the school’s multipurpose room.

The purpose of the meeting was to publicly announce next year’s budget and to allow for public comment.

Singleton is proposing the adoption of a balanced budget for the 2012-13 year in the amount of $7,076,433.

This budget represents a $322,413 decline from last year’s budget due to cuts in federal stimulus funds.

The current dollar amount is composed of local, state, federal and other grant resources.

Singleton will begin the school year with an estimated fund balance of $803,600 for the 2012-13 fiscal school year.

The largest contribution to revenues, $7,076,433, is comprised of $5,408,900 in state and local per-pupil allocations, $1,271,233 in Title I and II funding, with the remaining $396,300 coming from other state funds as well as donations.

Chief Financial Officer, Catrina Reed, said, “Based on projected enrollment, all staff positions have been reviewed and maintained according to what is necessary to continue to provide a quality education to our students.”

With 60 percent of the budget going toward salary and benefits, the finance committee began its review there.

Chief Executive Officer Douglas Evans emphasized this area, as well as transportation costs as major obstacles to reform. “In trying to enhance academic capacity, with equity and quality, we are not quite where we want to be,” he said.

Evans emphasizes that despite cuts, Singleton will maintain a 1-to-22, teacher to student ratio in the classroom.

The finance committee has worked to advance next year’s budget ahead of its state-mandated deadline in order to accommodate any necessary changes that may crop up in deliberation.

Should anything arise, another public hearing will be held before September 30 for the proposed budget amendments. There was no public comment made, nor questions asked at the hearing.

A copy of the Singleton 2012-2013 budget.