Bedford County Public Schools’ director of finance says current budget projections show the division is in “pretty good shape” despite state cuts, according to a first-quarter report given Thursday to the Bedford County School Board.
Based on the financial report from July 1 to Sept. 30, the division is projected to see a 1-percent decrease in revenues in the $100 million operational budget, which would total just more than $1 million. However, the division is also projected to spend 2.6 percent less than budgeted for operations, which totals about $2.5 million.
“We’re in a good position to absorb additional revenue shortfalls as we have to, based on the first quarter,” said Randy Hagler, director of finance.
The state’s contribution is projected to fall by about $1 million, from the $48.5 million in the division’s current budget. Federal contributions also are expected to fall by nearly $100,000, though stimulus funds helped the division offset negative effects of state reductions when the budget was adopted earlier this year.
One aspect that would be hard to project in the near future, Hagler said, is the winter’s effects on electricity expenses.
Board members are scheduled to start debating the superintendent’s recommendations for the 2010-11 budget, which takes effect next July, in early January. Adoption would follow in April, according to the schedule.
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