April 21, 2011

School needs to spend more to avoid deduction

By Michael Johnson, Editor

The Washburn School may need to start spending more than anticipated, as the ending fund balance for the school may exceed the 45 percent cap set by law. In originally approving the budget for the 2010-11 school year, it appeared the budget would fall just below the balance cap at about 41 percent. But as Washburn School District Supt. Brad Rinas explained, careful spending and slightly higher than anticipated revenue has brought them over 45 percent, or about $300,000 higher than expected. "You tend to get a little more revenue then you anticipate and you tend to spend a little less than what you think you will spend," Rinas said. The 45 percent cap was put in place in order to make sure schools were spending the one time stimulus grants that they received in recent years. The ending fund balance cap remains at 45 percent of actual expenditures plus $20,000 until the end of the fiscal year, June 30.

The Weather Network