Finance Department

Welcome to our web page!  To keep you informed, we have included recent audited financial statements, as well as the current and prior budgets.  The next few paragraphs will be a small explanation of the financial points and expectations of the Blaine County School District, as well as where we are headed over the next several years in terms of the strategic planning process and the financial picture of our School District.

School Budget 101 Presentation

Financial Highlights

• The District's total net assets from Government activities increased by $8,129,447 as a result of the District's capital assets growing through the continuation and completion of our building program.
• The District completed construction and opened the new Woodside Elementary School in August 2006.
• The District's fund equity available for general governmental program activities increased by $2,194,871.  The District has a goal of keeping the fund balance between 8 to 9% of the General Fund budget amount.  This year that percentage is 10.52%.
• The fund equity position of the General Fund increased substantially in the past fiscal year to $5,280,097.  With this planned increase from FY 2006-2007 and another increase in FY 2007-2008 to approximately $8,000,000, the District will peak on the fund balance position in anticipation of drawing fund balance down over the next two years until we will be faced with passing a supplemental override levy for fiscal year 2012.

Governmental Funds

The focus of the District's governmental funds is to provide balances of available resources and to provide data on near-term inflows and outflows.

General Fund

This is the main operations fund for the entire School District.  This fund covers everything from the child in the classroom to the transportation of students, as well as all building maintenance and operations.  For fiscal year 2007-2008, the total General Fund budget is $50,941,696.

The chart below shows a breakdown on a percentage basis of where expenditures are made.  As you can see, Salaries and Fringe Benefits account for approximately 71% of our budget.  Purchased Services would include utility costs, contracted services, professional development, and travel-related expenses. (Click here for a larger image.)

School Plant Facility Fund

This fund is used to pay for capital construction, building repair, and remodeling expenses throughout the District.  This is the fund that was created to pay for all expenses associated with the Plant Facility levy passed in May of 2000 in the amount of $40,000,000, to be collected over a ten-year period.  This levy and all of the projects will be completely paid for in July of 2010.  The following is a recap of the projects with the estimated cost each as well as the actual cost.

Economic Factors and 2009 Fiscal Year Budget

The School District considers many factors when developing the next year's budget.  Primary factors include student population compared to the student teacher ratios in each classroom and the number of new staff needed to meet those program goals, employee benefit cost increases, utility cost increases, and snow removal costs - to name a few.  This year's General Fund budget will increase between 1 and 2 percent over last year.  All of the increase will be spent on salaries for existing staff.

With the addition of the Plant Facility and the Bond/Interest levy collected again this past year, the District has placed itself in a situation where the fund balance will grow again this next year, with the realization that by 2011 we will back to a normal fund balance target of 9%.

Awards

The Association of School Business Officials (ASBO) awards a Certificate of Excellence in Financial Reporting to Districts meeting comprehensive annual financial reporting standards in accordance with generally accepted accounting principles as outlined in the Codification of Governmental Accounting and Financial Reporting Standards, published by the Governmental Accounting Standards Board.  In order to be awarded a Certificate, the District must publish an easily readable and efficiently organized comprehensive annual financial report which is examined by a peer reviewer.  A Certificate of Excellence is valid for a period of one year, and the Blaine County School District has been awarded this honor for the fiscal years 2004-2005 and 2005-2006, with the expectation the award will again be bestowed for fiscal year 2006-2007.