Ad Spot

Madison City Schools’ budget sees $16.71 million in reserves

Madison Board of Education members are president Ray White, seated from left, superintendent Dr. Dee Fowler and Ranae Bartlett, standing from left, Connie Spears, Dr. Terri Johnson and David Hergenroeder. (CONTRIBUTED)
Madison Board of Education members are president Ray White, seated from left, superintendent Dr. Dee Fowler and Ranae Bartlett, standing from left, Connie Spears, Dr. Terri Johnson and David Hergenroeder. (CONTRIBUTED)

MADISON – Madison City Schools officials are pleased with the outcome of the 2013-2014 budget.

The school district closed its fiscal year with a comfortable fund balance and within close margins of budget projections, according to Chief School Finance Officer Mike Weaver in his report to the Madison Board of Education on Nov. 6.

The fiscal 2013-2014 books ended with $1.4 million more in revenues than in expenditures, Weaver said. Both revenues and expenditures were within one-half of one percent of budget, with amendments applied.

The district’s budget has ended in a positive balance for five consecutive years.

“Fiscal management is a responsibility that our board and our office take very seriously,” Madison City Schools Superintendent Dr. Dee Fowler said. Fowler described the budget as a living document that needs frequent adjustments, not one that only gets once-a-year attention.

“The constant monitoring of the budget and the monthly adjustments have proven to be invaluable,” Fowler said. “Keeping a watch on revenues and expenditures allows the board to get a greater benefit of all revenues.”

“The $16.71 million in reserves for the new budget year is enough to cover 80 days of operating expenses,” public relations manager John Peck said. “The Madison City Board of Education wisely calls for two months reserves, instead of the 30 days that is required by the state.”

Reserves provide a safeguard for unexpected expenses, unfunded mandates, mid-year proration declarations, fluctuations in the economy and growth challenges.

“Mr. Weaver helped Dr. Fowler and board of education members stay on top of the budget through regular updates and budget amendments scrutinized by the board’s finance committee,” Peck said. Board members David Hergenroeder and Connie Spears, who serve on the finance committee, commended the budget outcome.

Maintaining personnel costs at or below 80 percent of all total costs is a key factor for the district’s financial stability. “In addition, department heads and local schools are not operating in an environment where they have to spend or lose their funds like so many other governmental agencies,” Weaver said.

Events

Asbury Church to present “Lessons & Carols: The Songs of Christmas” on Dec. 4

Events

Christmas at Burritt on the Mountain

Events

Madison Community Band to present “Christmas Journey”

Events

Winter Park at The Orion Amphitheater is now open!

Harvest

Still Serving Veterans named ‘Nonprofit of the Year

James Clemens High School

Markowitz, Odom and Wyche earn BBB’s ‘Torch Award for Ethics’

Bob Jones High School

Arslanbekov of Madison merits first place in von Braun Symposium

Harvest

Civic-minded groups help Madison’s blood supply

Events

Fantasy Playhouse’s “A Christmas Carol” to open Dec. 2

Bob Jones High School

Fantasy Playhouse uses grant for technical theatre lab

Events

Rocket City Christmas Light Show in Madison returns Friday

Bob Jones High School

Reflections fine arts gives outlet for students’ creativity

Events

Madison natives, The Beasley Brothers, plan annual Christmas concert at the Princess Theater Dec. 15

Madison natives, The Beasley Brothers, plan annual Christmas concert at the Princess Theater Dec. 15

Madison

Huntsville International Airport: TSA expects surge in travel volume for Thanksgiving, stresses preparedness

Madison

“Skills for Success” training program debuts to solve bus driver shortage

Madison

James Clemens principal picked to lead Hartselle school district

Events

Huntsville Ballet returns ‘The Nutcracker’ to the VBC stage

Bob Jones High School

‘Pullin’ for Partnership’ raises funds for Partnership prevention

Events

2022 Holiday Event Guide

Madison

AAA expects nearly 55 million Americans will travel during the long holiday weekend

AAA expects nearly 55 million Americans will travel during the long holiday weekend

Events

Skating in the Park is back for its 10th season

Madison

Liftoff! NASA’s Artemis I mega rocket launches Orion to the moon

Bob Jones High School

Next MCS workshop to deal with teenage depression

Madison

Flu season strikes early in Madison schools but prevention is key

x