(Shenandoah) – The Shenandoah School District ended fiscal year 2022 in good financial health.
That’s according to school affairs officer Bill Barrett, who recapped the fiscal year that ended July 1 at the Shenandoah School Board meeting on Monday. Overall, Barrett says the district is financially strong. Regarding the district’s general fund, Barrett says revenue grew 11.3%, or more than $1.5 million in fiscal year 2021, primarily due to district emergency funding. for elementary and secondary schools or ESSER available under federal programs related to COVID-19. . However, he notes that expenses increased by 13.5%, or more than $1.8 million, mainly due to two factors.
“Basically what we’re seeing is the IGNITE program and some pandemic things, which have increased education spending,” Barrett said.
Barrett says the net effect was a decrease of more than $313,000 in the general fund from FY21. The District of Shenandoah also saw an increase of more than 36% or about $73,000 in revenue and an increase of more than 25% or approximately $50,000 in expenditures in its activity fund. During this time, revenues decreased by approximately $80,000 and expenses increased by approximately $30,000 in the District Management Fund. Barrett attributed the drop in revenue to lower property tax collections.
“As you remember from the days when we did our budget forecast,” Barrett said, “we have full control over the revenue from the management fund. Basically, starting in fiscal year 2021, the levy on income has been reduced, so the net effect has been reduced income Our expenses have increased by about $30,000, and from what I see it is mostly early retirement and an increase in insurance premiums.
Barrett also noted an increase in revenue of about $175,000 in the district’s Secure an Advanced Vision for Education or SAVE fund from the prior year, and an increase of more than 12% or about $83,000. physical plant and equipment tax or PPEL funding. Barrett says the PPEL and ESSER dollars will serve as major sources of funding for the upcoming JK-8 building window replacement project.
“We expect it to be between $1.4 million and $1.5 million,” Barrett said. “At the end of September, we had about $938,000 there. We also have about $535,000 in ESSER funding that we saved for this project.”
The commissioners set a public hearing for November 1 at 5 p.m. on the window replacement project.