Cloverdale adopts school budget

CLOVERDALE — In spite of enrollment decline, being fiscally responsible remains a core value to administration at Cloverdale Schools.

After holding a workshop and a public hearing last month, the Cloverdale School Board adopted the corporation’s stated budget for next year on Monday.

To preface, in-person average daily membership (ADM), which determines educational funding from the state, has declined by about 440 students (from about 1,383) between the 2005-06 school year and 2021-22. However, the corporation’s online academy has increased by about 1,025 (from about 175) since its inception in 2020.

To the loss of in-person students, the corporation’s cash balances were hampered between 2014 and 2019 leading to deficit financing. But from a balance of $637,874 in 2019, 2023 saw one of $3,233,019.

As provided by Supt. Greg Linton at the workshop, the 2024 budget figures in perennial assumptions. These include utilities and property/casualty insurance increasing by 10 percent, while in-person ADM is expected to decrease by 24 students this school year. Health insurance premiums will go up four percent, a quarter-million-dollar hit.

Budgets are built on 18 months in advance as the next school year is under way. Into the specifics, revenue for the Educational Fund is generated by ADM, while the budget otherwise is determined by assessed value (now up four percent in Putnam County) and taxes.

“Even though the budget’s doing well, we continue to work hard to maintain responsible staffing levels,” Linton said at the workshop about supporting staff but being fiscally conservative. “We don’t just look to fill positions just to fill positions.”

The Debt Service Fund at about $1,240,000 is overtaken by almost $2,779,000 in expenditures, leading to an advertised 67-cent rate. Meanwhile, the Operation Fund’s revenue at approximately $6,429,000 is taken by almost $8,325,000, meaning a $1.02 rate.

Otherwise, revenue for the Education Fund stands anticipated at almost $21,555,000, though expenditures are set at not quite $20,093,000.

The actual tax rate levy for 2023’s budget was $1.08, following a decreasing trend from 2019. While the advertised 2024 rate is $1.68, Linton stipulated that the actual is expected to be at $1.08 to $1.10.

Along with the budget, a capital project plan and a school bus replacement plan are also submitted to the state.