The Archuleta School District (ASD) Board of Education held a work session last Thursday, May 28, to review the proposed budget for its 2015-2016 fiscal year.
With the budgeted deficit coming in less than expected, the board instructed staff to investigate the possibility of using reserves to upgrade curriculum.
ASD Finance Director Mike Hodgson began with a presentation of the preliminary budget. The total of all expenditures for 2015-2016 is projected at $13,727,322. This is a decrease of $188,849, or 1.36 percent over the 2014-2015 budgeted total of $13,916,171.
The meeting focused primarily on the general fund budget, which used $297,034 out of reserves. Budgeted revenues are expected to total $10,776,930, with expenses/transfers totaling $11,073,964.
Although the 2013-2014 general fund budget’s deficit was projected to be more than $1.38 million, the actual deficit was only $331,008. In 2014-2015, the deficit is projected to be $718,070, but the revised deficit is expected to be less, at $493,782.
“The district’s independent auditor strongly suggested that this year’s budget be more reflective of what actual revenue and expenses will be,” Hodgson said in a later interview.