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BoE budget reserves get a boost
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The Bryan County Schools system is going to end up with about $4.5 million more than expected in its fund balance for 2011, which will help pad its reserve fund and balance next year’s budget.

That was according to Melanie James, Bryan County Schools finance director, who updated the Board of Education during a called meeting Tuesday at the BoE offices in Pembroke.

No action regarding the budget was taken by the board. But James reported that the reserve fund’s year-end balance for the current budget year, which ends June 30, was expected to be around $6.1 million. However, she said that projection has increased to $10.6 million.

The extra $4.5 million is the result of several factors, she said, including budgeted 3 percent revenue cut from the state that never came to fruition. That alone saved the board $813,235. The board also received $775,253 in federal funding for jobs and saved unspent funds of about $1.6 million from 19 vacant faculty and staff positions, James said.

Part of the extra $4.5 million – about $677,000 – will go toward balancing the budget for fiscal 2012 since projected expenditures for next year will exceed revenues by that amount. Once this is balanced, the remaining monies will be put into reserve.

For more, pick up a copy of the May 14 edition of the News.

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