SIDNEY — Appropriations for Sidney City Schools were approved during Monday’s Board of Education meeting.
Treasurer Mike Watkins told the board that there is a slight increase in the general fund numbers from the previous year. Temporary appropriations were approved in June and the final resolution has be approved by the end of September. The appropriations are for the year ending June 30, 2017.
Governmental fund types include the general fund, special revenue, debt service fund and capital project fund.
General fund appropriations were approved for $35,650,000, which includes salaries, $18,200,000; retirement/benefits, $6,500,000; purchased services, $7,850,000; supplies, $800,000; new/replacement equipment, $600,000; other objects, $500,000; and other objects, $1,200,000.
Special revenue classifications was set at $3,395,765 and includes public school support, $150,000; restricted grants in aid, $20,000; termination benefit fund, $100,000; music/athletic, $250,000; auxiliary services, $603,839; Title I, $1,182,575; and Title VI-B IDEA, $821,482.
The debt service fund was set at $2,500,000, which includes the middle school bond issue and the certificates of participation for the financing of the board of education building.
Watkins said the balance on the board of education building is $675,000 and his plan is to retire the entire debt this year.
“Typically we pay down $75,000 and refinance the balance, but the cost of refinancing doesn’t change as the balance gets lower so the all in cost to refinance the balance is going up every year so it makes sense to consider paying them off,” said Watkins.
The capital project fund includes permanent improvements, $350,000, and capital projects fund, $65,000, for a total of $415,000.
Other funds in the appropriations include food service, $1,600,000; scholarship fund, $5,000; scholarship trust funds, $500; and district agency fund, $100,000.
Total appropriations approved were $43,666,265.
The resolution will be filed with the Shelby County Auditor’s Office.
In other business, the board: