Putnam BOE Approves Budget, Covers Gap With Fund Balance

The Putnam County School Board has decided to cover a some $655,000 budget deficit with fund balance money.

The move was included in the third draft of the school spending plan approved by the school board Thursday. Director of Schools Corby King said the budget increased expenditures by about $4.1 million.

“We feel very comfortable,” King said. “We have a healthy fund balance. So, we feel very comfortable recommending that we use the fund balance to balance this budget at $655,582 gap.”

School Board Chair Lynn McHenry said the deficit is small in comparison to the overall approved $97 million dollar budget.

“I’m trying to put the $600,000 in perspective for those who might not understand,” McHenry said. “That is a huge number of course, but our budget yearly is at the $97 million mark.”

King said the budget also includes a projected increase of BEP funding by about $1.4 million. King said that money as well as assistance from county commissioners helped make a four percent raise possible for school personnel.

“The cooperation between the school board and the county commissioners this year has made this budget a possibility,” King said. “This is the most exciting thing for me, and I think for our employees. And, I think this is just again working the school board and the county commissioners together were able to actually give a four percent raise this year.”