HCS approves draft budget

Hardin County Schools has begun the budgeting process for the upcoming fiscal year.

The HCS board approved a draft budget for fiscal year 2014 Thursday at its regular meeting. The draft budget is the first step in the budgeting process and typically provides the board an idea of what to anticipate for the coming fiscal year.

The draft budget at this point represents the same information as the fiscal year 2013 working budget from which HCS currently is operating. Information will be updated through the budgeting process.

The district’s general fund is estimated to be $101.8 million, the same figure used when the 2013 working budget was approved.

The district saw an increase of $911,203 in Support Education Excellence in Kentucky money, the main source of state funding, from the figures in the working budget, according to a decision paper presented to the HCS board. The increase in funding is because of an increase in the district’s average attendance.

However, the base SEEK figure of $3,827 per student is a decrease of $6 from the current fiscal year’s amount, according to the decision paper.

SEEK is estimated to be $54.3 million in the draft budget.

Property assessments haven’t been fully determined, and district officials aren’t sure what they will receive from local taxes, according to the paper. This also affects SEEK, as it is balanced against what districts receive through local support.

Revenue from property taxes is estimated at $18.5 million in the draft budget.

The capital outlay fund is estimated at $1.8 million, the building fund is estimated at $12.4 million and the food service budget is estimated to be $8.2 million, all similar figures as compared to the working budget.

Kelly Cantrall can be

reached at (270) 505-1747 or kcantrall@thenewsenterprise.com. By KELLY CANTRALL

The News-Enterprise

Hardin County Schools has begun the budgeting process for the upcoming fiscal year.

The HCS board approved a draft budget for fiscal year 2014 Thursday at its regular meeting. The draft budget is the first step in the budgeting process and typically provides the board an idea of what to anticipate for the coming fiscal year.

The draft budget at this point represents the same information as the fiscal year 2013 working budget from which HCS currently is operating. Information will be updated through the budgeting process.

The district’s general fund is estimated to be $101.8 million, the same figure used when the 2013 working budget was approved.

The district saw an increase of $911,203 in Support Education Excellence in Kentucky money, the main source of state funding, from the figures in the working budget, according to a decision paper presented to the HCS board. The increase in funding is because of an increase in the district’s average attendance.

However, the base SEEK figure of $3,827 per student is a decrease of $6 from the current fiscal year’s amount, according to the decision paper.

SEEK is estimated to be $54.3 million in the draft budget.

Property assessments haven’t been fully determined, and district officials aren’t sure what they will receive from local taxes, according to the paper. This also affects SEEK, as it is balanced against what districts receive through local support.

Revenue from property taxes is estimated at $18.5 million in the draft budget.

The capital outlay fund is estimated at $1.8 million, the building fund is estimated at $12.4 million and the food service budget is estimated to be $8.2 million, all similar figures as compared to the working budget.

Kelly Cantrall can be reached at (270) 505-1747 or kcantrall@thenewsenterprise.com.