Both local school boards have now approved their working budgets for the 2009-10 fiscal year and administrators from the two districts have arrived at some of the same conclusions.

Shrinking local tax revenues and cuts in state funding have been at least partially offset by federal stimulus dollars for this year and the next, so even though budgets may be equal to or smaller than in the previous two years, the districts haven’t had to make drastic cuts yet. But if the economy doesn’t turn around by 2011 and they are no repeats of government funding such as the 2009 American Recovery and Reinvestment Act, deeper cuts may become a reality.

Both districts have already seen some unexpected cuts in textbook funding recently. Glasgow found out a textbook grant had been reduced from $69,000 to $7,000. Barren County Schools received word last week that they would be suffering a $129,000 loss in textbook funding, as well.

GLASGOW

The Glasgow Board of Education met on Sept. 14 at South Green Elementary and Finance Director Sue Furlong presented the 2009-10 working budget to board members.

Revenue totals for Glasgow Independent Schools for 2009-10 are projected to be $22,119,368, according to Furlong. That number is fairly stable when compared to the previous two years’ actuals. Total actual revenue for the 2008-09 school year was $22,456,139 and $22,048,185 for fiscal 2007-08.

Total actual expenditures in 2008-09 were $17,485,011 and $18,315,868 in 2007-08. Projected expenditures for the current budget are $22,119,368, matching projected revenues, which is normal procedure when using a working budget.

The budget includes a 4.9 percent contingency, Furlong said. The state normally requires districts keep at least 2 percent of their money in a contingency fund.

Furlong told the board that the stimulus money made everything a little more confusing when she was developing the budget this time because amounts had to be moved in between different budgetary funds.

In the General Fund, total revenues are budgeted at $14,556,593 for this year, as compared to $16,538,602 for last year and $16,402,521 for the prior year. Budgeted General Fund expenditures for this year are $14,556,593, as compared to $13,048,808 last year and $13,648,732 for the prior year.

Fund 2, or special revenue, is budgeted for $2,806,509 this year, compared to $2,424,747 and $2,637,052 respectively for the last two years. Expenditures in Fund 2 equal revenue with a projected fund balance of zero at the end of fiscal year.

The Capital Outlay Fund is budgeted for $181,000 compared to $181,932 and $216,093. Expenditures in Capital Outlay also equal revenue.

The Building Fund has a projected budget of $3,043,753 in the current year. That is in comparison to $1,801,522 last year and $1,275,954 the previous year. The building fund had carryovers of $1,291,215 in 2008-09 and $802,607 in 2007-08. The district has been working to increase funds and bonding capacity for improvements to Glasgow High School.

The Food Services Fund has remained fairly stable with approximately $1.5 million budgeted in the last three years and $1.3 million being expended.