State officials: School finances in good shape

BY VICTOR INGE

THE SELMA TIMES-JOURNAL

The Selma City Board of Education approved its 2007-2008 budget in a brief called meeting following its second public hearing.

State school board officials, who provided technical assistance due to the system not having a chief schools financial officer, planned to deliver the draft themselves Tuesday morning.

State officials have said the city school finances are &8220;in good shape,&8221; despite the outward appearance of more expenditures than revenues budgeted for this year.

Craig Pouncey, assistant state superintendent for finance and administration, has sat in on board meetings and during budget preparations.

The expenditures outlined in the budget total $35,366,789. The revenue/other sources of income total $33,736,184.

The system’s beginning balance is $9,552,671, and the projected ending fund balance is $7,922,066.

The state department’s Warcheta Bedgood clarified several concerns, chiefly the school system would be receiving more than $5 million later this year &045; which is not budgeted.

The funds, she said, are estimated at $5,104,374.

This is the anticipated allocation of the statewide bond distribution and the funds will be available in December 2007.

Bedgood also said the $19,451,488 budgeted for instructional, is &8220;not just teacher salaries.&8221;

Selma City Board Chairman John Williams, who was also hosting the District 2 annual meeting at the Ramada Inn, said having state officials’ help in preparing this year’s budget has been good for the system.