Photo courtesy of Mt Laurel Elementary
Mt Laurel
Shelby County Board of Education recently passed its budget for the upcoming fiscal year.
The Shelby County Board of Education recently passed a budget to cover its projected $207,910,383 in expenditures.
“The Shelby County Board of Education had a decrease in state revenues compared to previous year; however, projected growth in local revenues will offset the impact of the decline in state revenues,” said Chief Financial Officer and Assistant Superintendent of Finance Gary McCombs.
With around 20,000 students enrolled as of Sept. 1, the projected cost per student is around $10,314.13.
McCombs said the school system’s beginning fund balance of $31 million and revenues of $202 million provide resources to meet expenditures needs.
“The system continues to operate from a conservative budget position and has projected a stable one month General Fund operating ending fund balance,” McCombs said.
The new fiscal year starts Thursday, Oct. 1.
