The Cherokee County Board of Education approved its $41,352,802.39 budget during the board’s regular meeting of Tuesday.

The School Systems Chief Financial Officer Robin Cunningham said that the system has $5.4 million projected in local revenues for the fiscal year with $2.3million of that going to teachers and support staff, $336,000 instructional and supplies, $1.4million for utilities and maintenance for schools, $256,000 for the additional amount for transportation cost and $1.2 million for debt services.

Cunningham said that she projects the board will have a beginning balance for the FY 2015 School Year of $6.3 million – with the General Fund having $4.7 million, Special Revenues $909,000, Capital Projects $517,000, Fiduciary Funds $195,000.

Projected Revenues for the board came at $38million – with $23million coming from the state, $4million from federal revenues and local revenues at $10million which includes the one cent sales tax.

Expenditures will be $39million – $19 million of that will be instructional salaries, $5million in instructional support salaries, $2.6million operations and maintenance, $5.3million for auxiliary services, capital projects $1.6million, debt services $1.3million and $1.1million in others.
Cunningham projected the Fiscal Year to end at $5.6million, with $4.4million being general fund, $861,000 in special revenue, $76,000 in capital projects and $200,000 in fiduciary funds.

Cunningham said that the state requires a one month operating reserve but highly recommends two Cunningham said that at the end of the fiscal year the board would have a 1.66 month operating expense reserve.