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School board approves FY2019 budget

By Staff | Sep 14, 2018

In a regular meeting Tuesday morning in the Rugby High School library, the Rugby Public School District No. 5 Board of Education approved the budget for Fiscal Year 2019.

With the district’s taxable valuation at nearly $25.55 million, 60 mills will make up the district’s general fund levy; 12 mills will make up the miscellaneous fund levy and 10 mills will make up the discretionary levy.

The district projects over $7.54 million in general fund revenues and over $7.509 million in general fund expenditures in FY2019 in FY2019.

Of the total in revenues, over $2.275 million is projected to come from local sources, over $5 million from state sources, $247,279.63 from federal sources, and $1,800 from other sources.

Of the total in expenses, over $1.5 million is projected to be district expenditures; nearly $2.6 million is projected to be Ely expenditures; just over $3 million is projected to be high school expenditures; and $381,558.21 is projected to go toward extra-curricular activity expenditures.

The general fund balance at the beginning of FY2019 will be nearly $1.57 million, and at the end of the fiscal year is projected to be nearly $1.6 million. Net cash flow will be $31,156.98 in revenues over expenditures.

Other actions

– The board discussed capital improvement projects, which included needs at Ely Elementary and the high school’s outdoor athletic complex.

– The board approved the district’s annual compliance report.

– The board approved the consent agenda, which included meeting minutes, bills, financial statements and tuition agreements with the Drake-Anamoose and Towner-Granville-Upham school districts.

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