LMSD Budget Hearing Produces Interesting Info

The Louisville Municipal School District held their annual budget meeting today (June14) as the school faces financial issues like most districts across the state of Mississippi. Superintendent Wade indicated that state funding is $1.8 million less than it was three years ago. Wade indicated that the District had survived without major tax increases due to cuts but that any future cuts would be painful and likely involve personnel and that budget decisions were made with two goals in mind: maintaining the integrity of our school program and considering the financial effects on taxpayers.
Tracy Luke, Director of Finance provided budget breakdowns during the meeting. The following includes some statistical data:
SOURCES OF REVENUE
LOCAL                             $6.6 million        27%
STATE                              $13.1 million      53%
FEDERAL                         $4.7 million        19%
16TH SEC                         $344 thousand   1%
TOTAL                              $24.9 MILLION


EXPENSES
Personnel expenditures constitute 73% of the budget, while maintenance and operations constitute 27%.
INSTRUCTIONAL EXPENSE      54%
SUPPORT                                      36%
NON INSTRUCTIONAL                7%
DEBT SERVICE                               2%
16TH SEC EXPENSE                       1%

The projected revenue for fiscal year 2013 is $24,922,264 and the proposed budget is $26,330,973 leaving a shortfall of $1,408,709. The difference will be made up by the use of beginning balance funds as has been done in recent years.

During the hearing some interesting statistics were provided to the public including:
at LMSD-
One computer for every 4.5students
61% of teachers have advanced degrees
81% of LMSD graduates pursue higher education
The overall student/teacher ratio is 12:1
85% of students are eligible for free or reduced cost meals.

There was only one public comment as the issue was raised concerning the lack of teacher's aides in grades 1-6. The Board and Superintendent Wade indicated that  teacher's aides were not used because LMSD focused funds on lowering the teacher to student ratio. Wade indicated that LMSD's teacher/student ratio was one of the lowest in the state and that the District felt it was more important to have more certified teachers in the classroom than aides.

The budget must be finalized by August 15, 2012. Any final effect on mil levy and property taxes will not be known at this time, however there is a 55 mil cap on school districts. LMSD mil levy for the previous year was 53.75 mils.

W. McCully