FAYETTEVILLE -- The School Board approved the 2017-18 school year budget at Thursday's meeting, adding $2.3 million into the building fund.
The School District ended the school year with a more than $15.6 million balance, which includes the teacher salary fund, operations and debt services.
Revenue came in more than expected because of local tax collection and expenditures came in on target, said Glenda Sullins, director of finance and business services for Fayetteville Public Schools.
"The ending balance came out more than we anticipated, which allows us to be able to put $2.3 million into the building fund for future building projects," Sullins said. "I think that is the highlight of the day."
The district spent almost $1.6 million on building projects during the 2017-18 school year. Renovation to Washington Elementary School's playground was the most expensive project at $600,000.
The overall surplus comes even after the raises given to certified teaching staff and classified staff last year. The School Board approved in June another increase in salaries for this school year, giving classified staff members a step increase of 2.5 percent and certified staff members will receive an average increase of 2.5 percent.
The revenue is expected to go up as salaries go up, Sullins said, with salaries and benefits remaining roughly 76 percent of the district's budget.
The board also unanimously voted on policies including National School Lunch Act funding expenditures; parents, family and community engagement; graduation requirements and unexcused absences.
The changes in graduation requirements only included state mandated ones, including a passing score on the Arkansas Civics Exam and for students to complete a course that includes specific personal finance standards in either grades 10, 11 or 12.
NW News on 08/24/2018