Dexter R-XI School District will spend just under $26.2 million in the next fiscal year, under a budget approved Thursday by the Board of Education.
The plan includes nearly $4.5 million budgeted for bond construction, according to information provided to the board by Superintendent C.A. Counts.
“We are going to dip into our balances a little bit, but we’ve discussed that,” he told the board.
Fund balances will drop from approximately $8.5 million to a little more than $8 million, Counts said.
“That’s a little less than $500,000, but that also does consider in $266,000 for three busses… That also takes into account $154,000 for an insurance assessment,” he said. “Taking those things out, that are basically one-time expenses that you’ve got to deal with, I’m pretty happy with this budget as we go forward.”
A Missouri Department of Natural Resources rebate program will partially fund the bus purchases, leaving the district with the cost of $266,000.
Revenues of approximately $21 million are expected, not including bond revenues from a measure passed by voters in April 2019.
Districtwide construction is underway to improve the Charles Bland Stadium at the high school, add classroom space at elementary schools and make other improvements. Construction expenses were also included in the current year’s budget.
Construction projects are on schedule, despite the recent rain, Counts said.
“It will be a busy year, with all of those things, but I’m very happy with where the budget will turn out,” Counts said.
Counts told board members he was cautious in revenue projections.
“This budget allows the district to maintain present programs and educational opportunities while also being fiscally conservative in light of the constantly changing state funding,” Counts wrote in a budget message to board members.
The district has also purchased Chromebooks for students as part of a 1-1 technology program for students in grades nine through 12.
Other expenses include the addition of a kindergarten teacher to accommodate a larger class size.
School board member Nancy Mayer asked if the budget increases pay for substitute teachers, explaining that is still a concern for her.
Counts said it did not, explaining the budget was impacted in the current fiscal year by several longer medical leaves.
After 20 consecutive days, substitute teachers receive the same pay rate as beginning teachers, he said.
The pay rate can be amended later, but, Counts said, the district has to also balance the need for substitute teachers when staff members are out for professional development.
Spending on substitute teachers was higher at all campuses than original budgets, with the largest cost at Southwest Elementary, at $44,000. The building had $19,000 budgeted, according to the discussion.
Other buildings spent between $26,000-$35,000 in the current fiscal year, which ends June 30.
The district has just under $20 million in longterm outstanding debt. This includes (figures approximate): $6 million, from general obligation refunding bonds issued in 2015; $3.5 million, from general obligation refunding bonds issued in 2016; $283,500 from a 2016 bus lease purchase agreement; $5.5 million from general obligation bonds issued in 2019; and $4.1 million for a 15-year certificates of participation issued in 2019.