SP board approves budget advertisement

With the time coming soon for school administrations to submit budgets for next year, board members got an idea this week of what South Putnam Schools is expected to work with.

Paul Pfledderer of Administrator Assistance gave an overview of where South Putnam’s 2022 budget would likely stand during a special work session with the South Putnam School Board Monday evening.

The estimate for the Education Fund is $7,628,955 with no impact on levies or expected funds to be raised. Pfledderer said a cash balance here was important, though funding could change greatly in terms of South Putnam’s average daily membership (ADM) count next month.

With the Operations Fund, the budget expected is $3,784,452, though it is anticipated that $1.9 million will be spent. A such, the expected funds raised here is $2,484,038 with the current tax levy being $2,150,418. Pfledderer said this fund is allowed to grow, as it also covers non-teacher salaries.

As to the Debt Service Fund, this is projected at $1,602,363 with the maximum funds raised at $1.6 million. The current tax levy is $1,706,337, and as such it will drop from last year’s budget. South Putnam should see significant debt fall off next year, with new debt incurred from bonds pertaining to an improvement project.

Lastly is the School Pension Debt Fund, whose budget is estimated at $237,945 with the maximum funds raised set at $235,000. The current levy pertaining to this fund is set at $231,021.

The maximum school operations levy is estimated at $2,484,038, with a property tax cap credit estimate at $10,810.

As to a school bus replacement plan for 2022-26, Pfledderer said South Putnam should be replacing two school buses a year going forward. Meanwhile with a capital projects plan for 2022-24, he provided that bonds and loans generally cover bigger projects, while this plan would cover smaller investments.

All of this considered, the board approved to advertise the proposed 2022 budget, as well as the five-year school bus replacement and capital projects plans.

The proposed budget with supplemental documentation can be viewed on Gateway, which is where school and municipal entities submit financial information through the Department of Local Government Finance and the State Board of Accounts.

Along with Pfledderer and the entire board, Superintendent Corey Smith, Executive Assistant Terri Beasley and Corporation Treasurer Hilarie Logan were present for the meeting.

A public hearing on the budget will be held at the board’s next regular meeting on Wednesday, Sept. 8 at 7 p.m. in the South Putnam MS/HS Learning Center. The final budget is set to be adopted in October.