There will be no pull from reserves for the Tullahoma City Schools coming fiscal year.
After pulling more than three quarters of a million dollars from its undesignated fund balance last June for the current fiscal year, the school board unanimously approved a balanced budget that did not include any reserves monies at its June 17 regular meeting.
There was some worry last month that the board would need to pull approximately $300,000 from the undesignated fund balance in order to cover a 2 percent raise for all employees and a 1.5 percent step raise for eligible employees.
Those two pay increases would have constituted an additional $752,255 expenditure on behalf of the district. Business Director Mike Roggli estimated at that time that all local, county and state funding sources could contribute approximately $450,000 of that figure.
“There’s at least $450,000 in new revenue coming from those three sources, conservatively,” he said in May. “It could be more.”
That hunch proved correct for Roggli, as the numbers came in much higher than anticipated.
According to the draft budget, the district anticipates a total of $17,174,000 in Basic Education Program (CEP) funds – a $674,000 increase in state money from the previous fiscal year.
In addition to the increase in BEP funding, the district has also planned for an additional $152,207 in Coffee County property tax revenue and nearly $700,000 more in assistance from the city of Tullahoma. The budget approved includes a total increase of $699,351 from a “city general fund transfer,” raising the amount from $8,440,271 to $9,139,568.
Other state funds that are expected to increase is the amount of funding provided to the district for its pre-kindergarten program. The approved budget anticipates a little more than $11,000 increase for the pre-K classes.
Those totals, combined with all over revenue sources for the district, set the total budget at $33,581,657 for FY20, which begins July 1
Erin McCullough may be reached at firstname.lastname@example.org.