BENTONVILLE — For the first time in four years, Bentonville Public Schools are closing their financial year with an increased fund balance instead of a decreased one.
“Overall, this is the most optimistic budget that we have dealt with in awhile,” Superintendent Gary Compton said at the school board’s regular meeting Monday evening. “We are not out of the woods yet, but for the first time in four years we can report some good news to you.”
This time last year, the board closed their budget with $5 million in their fund balance; this year, they will close with more than $14 million. If the school’s budget stays on course, they may meet their goal of having a fund balance at 10 percent of their operating costs by 2012.
“I don’t know where this takes us, but our teachers and staff have gone three years without raises,” said Travis Riggs, board president. “If we are getting back on track, I think that has to be part of our conversation.”
According to Compton, the budget is still preliminary and the board may possibly discuss the topic of teacher and staff raises at their Sept. 13 board meeting. The budget is also planned to be approved at this meeting.
“A few things still concern me,” Compton said. “Number one, I am worried and concerned about reassessments that will impact certain parts of our district.”
The district lost $1 million in funding last year when the county lowered assessments, said Sterling Ming, executive director of finance. The board fears this may happen again this year.
“The collection assessments are the big crystal ball here,” Travis Riggs said.
The upcoming biannual state Legislature economic sessions are another concern for the board.
“Whenever the legislation comes back into session, I am always worried,” Compton said. “Our Legislature in the past has gone to great extents to protect declining school districts. On the other end they offer no review for districts that are rapidly growing. The reason is there are very few of them that are growing at the rate that we are so the state makes no effort to address that.”
During this session, the Legislature will set the funding formula for schools for the next two years, Ming said.
The board also discussed several other topics including adding a cell phone tower with AT&T at the Tiger Athletic Complex and the drafting of a contract with the Walton Family Foundation and the city of Bentonville authorizing construction of a mountain bike trail in the wooded area east of Lincoln Junior High School. The board voted to allow Scott Passmore, facilities director, to continue researching both topics further.