Alabaster City Schools approves 2014 budgetPublished 2:52pm Friday, September 13, 2013
By STEPHANIE BRUMFIELD / Staff Writer
ALABASTER – The Alabaster School System approved its 2014 budget at a special-called meeting Sept. 13 and has close to $9 million in reserve, or approximately 1.89 months of operating costs.
“We are very proud that our revenue exceeded our expenditures,” said Alabaster School Superintendent Dr. Wayne Vickers, noting the system was able to avoid overspending even after performing about $500,000-$600,000 worth of cleaning and start-up projects this summer.
“We’ll be looking at capital improvement projects very shortly,” he said.
Adam Moseley, president of the Alabaster Board of Education, said it’s great to have a budget so favorable.
“I think it speaks volumes to what we’re going to be able to do for our students,” Moseley said. “It shows everyone that this was in the best interest of Alabaster and our children.”
During its Sept. 9 meeting, the Alabaster Board of Education reviewed the system’s three-month budget, under which Alabaster City Schools has been operating since its formation in July. In an interview Sept. 10, Vickers said the school system had about $2.2 million in the back to carry over into the next year.
Alabama law requires school boards to keep at least one month’s worth of operating expenses in the reserve at all times to cover emergency situations. The approximate $9 million in reserve is equal to approximately 1.89 months of operating costs, Vickers said.
Much of the school system’s reserves are fueled by a 1-cent sales tax increase passed by the Alabaster City Council in 2011. Proceeds from the 1-cent sales tax increase feed a city education fund, which can be accessed only by the Alabaster School Board.