UPDATED: Lindbergh board approves revised 2014-2015 budget

Operating surplus projected at $334,562 for current year

By Mike Anthony

The Lindbergh Board of Education voted unanimously Tuesday night to adopt a revised 2014-2015 operating budget that projects a surplus of more than $334,000.

The revised operating budget projects revenue of nearly $66 million with expenditures of roughly $69.2 million. Expenditures include roughly $3.5 million in one-time capital expenses that will be funded from district reserves.

The Lindbergh Board of Education was scheduled earlier this week to consider approval of a revised 2014-2015 operating budget that projects an operating surplus of more than $334,000.

The school board was set to meet Tuesday night — after the Call went to press.

The original operating budget approved by the school board in June projected a surplus of $77,028. The proposed revised budget projects that surplus would increase by $257,534 to $334,562, according to a memo from Chief Financial Officer Charles Triplett to Superintendent Jim Simpson.

Updated numbers for the current 2014-2015 operating budget project expenditures of $63,977,838 with anticipated revenue of $64,075,115.

The proposed revised operating budget anticipates expenditures of $69,241,204 — including the board-approved $3,578,777 for one-time capital expenditures from reserves for property purchases and development — with projected revenue of $65,996,989.

“Using the current figures and excluding the one-time capital expenditures, an operational surplus of $334,562 is projected for the current fiscal year,” Triplett wrote.

One-time capital expenditures being funded from reserves include $2.8 million for the construction of a new Early Childhood Education Annex at Truman Middle School, $337,570 for the purchase of property at 10915 Tesson Ferry Road, $269,300 for the construction of a play field at Sappington Elementary School, $149,782 for ongoing improvements at Long Elementary School and $22,125 for the purchase of property at 10909 Tesson Ferry Road.

The original 2014-2015 budget projected a general-fund balance of $22,534,457 on June 30, 2015. The proposed revised budget projects a general-fund balance of $21,730,208 on June 30, 2015.