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Published: Monday, 7/2/2012

$55M Monroe school budget taps $2M in reserves

BLADE STAFF

MONROE -- The Monroe Public Schools Board of Education has adopted a balanced budget for the 2012-13 year, but it used $2 million in reserves to keep spending in line with revenues.

The $55,754,991 spending plan is nearly $4 million lower than the 2011-12 budget. The use of the reserve money essentially empties the district's reserve balance.

State aid is to rise $618,954. Savings include caps on health insurance ($1,793,603), a freeze on teachers' step raises ($565,000), and a cut of six teaching jobs.

The board last week also adopted a $2,527,100 budget for the building and site sinking fund, $2,982,500 for the food service fund, and $150,385 for the debt fund.



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