Just because it’s summer doesn’t mean that school boards aren’t meeting to keep up about important matters relating to their district. On June 28, Watertown-Mayer’s school board met up to accept a revised budget for the 2021 fiscal year, as well as the preliminary budget for 2022.
Lisa Raiter, finance director for Watertown-Mayer, [resented the budgets to the school board. There are five different funds in the school’s budget to account for, the largest and widest reaching being the General Fund.
This fund covers all student educational activities, including transportation. This fund receives five sources of revenue: the state, levies, federal, local, and insurance recovery. Each of these covers different aspects of the General Fund. For example, state funding depends on enrollment. Due to COVID, the school did lose a few students. However, the number was very low, and according to Raiter Watertown-Mayer actually got out good compared to other districts who lost more students due to the pandemic. For 2022, the school expects to still increase enrollment, and will continue to keep an eye on the numbers.
The original proposed revenues came in at just over $18million for Watertown-Mayer. The revised revenues are at $19.6million due to an insurance claim coming through for hail damage and from the federal COVID funds given to the school. For 2022, the estimate is very close to the revised revenues, only increasing by $1700 in total. Raiter mentioned that it’s important to note that once revised, there will likely be another increase due to increased enrollment.
As for expenditures, the revised expenditures did increase, again due to COVID and the insurance claim. All expenditures are still below revenues, so there is no deficit, which is great for Watertown-Mayer.
As for the food services fund, revenues here took this biggest hit, mostly due to COVID. The initial approved revenues sat at $770,400. The revised revenues are down to $470,785, a decrease of $300,000. This is due to COVID entirely, as there were less students eating campus food, no al a carte purchases, and just a lack of need for a good chunk of the year. The proposed revenues for 2022 are $756,844.
The most important aspect of this to note is the Federal Government has declared that breakfast and lunch will be free for students during the 2021-2022 school year, so all revenues are coming from al a carte and the Fed. Students won’t be charged.
Expenses were the same, with revised expenses being at just over $500,000.
Community Education was next on the list of funds. Like all the others so far, there was a decrease in revenues due to COVID of about $80,000, mainly due to a reduction in classes. The proposed revenues is an increase to $1.8million compared to $1.7million, so things are expected to increase with restrictions changing and classes increasing.
The construction fund was the biggest change, which anyone keeping on eye on all the renovations would expect. This is this year’s biggest fund, with expenditures being far higher than revenues, though that’s due to the money already being collected and simply being used. Expenditures went up from about $6million to $9million from the initial plan, and will continue to increase in 2022 up to $13million with current expectations.
As for fund balances, COVID did do some damage. Due to unexpected losses and expenses, some of the fund balances had to be used, with food services being the hardest hit. However, the damage wasn’t too great, and things are expected to recover in 2022.
With that all information ready, Raiter requested that the revised budget be approved for 2021 with revenues totaling $27million and expenditures at $35.4million, with construction being the biggest adjustment to expenditures. Motion was made, and approved unanimously.
As for the preliminary budget for the 2021-2022 school year, total revenues proposed being $27.4 and expenditures at $39.8million. Motion was made to approve the preliminary budget, and approved unanimously.