Claremore Daily Progress

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October 17, 2013

Claremore School Board adopts final budget

CLAREMORE —

The Claremore Board of Education adopted the final budget for the 2013-14 school year during a regular meeting Monday evening. 
According to information provided at the meeting, the final budget for the district’s general fund is $27,299,273.14 with $26,089,249.66 leaving and ending fund balance of $1,210,023.48. The year-to-date ending fund balance is $2,266,940.63 as of Sept. 30.
Appropriated fund balance including general, building, child nutrition, co-op, building bonds, sinking and gift funds total $4,883,961.92 in cash assets as of Sept. 30, with a fund balance of $4,230,211.28.
Currently, 34 percent of the state budget is used to aid education, compared to 38 percent in 2004. State aid cuts are causing the district’s fund balance to go down, said Anne Wade, finance officer for Claremore Public Schools.
Since 2008, Oklahoma has experienced the third largest decrease in the nation for common education (pre-k through 12) spending.
“How we get our funding is tax-based. Everytime we reduce our state -tax, it affects schools and our funding. I believe schools have to be fiscally sound or have enough to carry over, so that we don’t have to issue non-payable warrants,” said Wade.
Wade said there is not anything wrong with non-payable warrants, it just communicates to the community that the district overspent their budget.
A non-payable warrant is where the bank covers the district until the district receives an ad valorem in January. 
“Claremore’s fund balance was great last year due to $1 million in prior year money that came in after the close of the prior fiscal year. The state department of education has changed it to where all federal funds have to be recorded and submitted monthly,” said Wade. “Each district has to send in a claim every month which is supposed to expedite the reimbursement process. Hopefully that will expedite Claremore’s reimbursement.”

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