By KATIE MCDOWELL/Managing Editor

The Shelby County Board of Education approved its 2013-2014 fiscal year budget during its Aug. 28 meeting.

The budget projects revenues of approximately $227.8 million and expenditures of $243.5 million.

“This includes everything across the system, the general fund, the special revenue funds, the debt service, the capital projects, all the schools,” Assistant Superintendent of Finance Gary McCombs said.

The school system is projected to begin the fiscal year with an approximately $60 million fund balance and end the school year with $44 million fund balance, according to documents distributed in an Aug. 15 budget hearing.

McCombs said during the budget hearing that the budget “presents a very positive force for the future.”

He said the budget allows the school system to invest in technology, maintenance and building upgrades – all areas that saw cutbacks during the last several years because of proration and a weak economy.

The board also heard the results of a fiscal year 2011-2012 audit from a state examiner of public accounts, who said they “noted no matters to indicate that the board had not complied in all material respects with applicable laws and regulations.”

Board President Aubrey Miller acknowledged the central office staff for the audit.

“At a time when school systems are facing opposite kinds of reports, we are delighted that the staff at central office were able to generate (these) kind of findings,” he said.