HPSD finishes fiscal year with almost $1 million, releases appro - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

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HPSD finishes fiscal year with almost $1 million, releases approved budget

HATTIESBURG, MS (WDAM) -

The Hattiesburg Public School District released final numbers from the 2015-2016 fiscal year and its approved budget for the next one.

Sheryle Coaker, interim chief financial officer for Hattiesburg Public Schools, said at a school board meeting on July 7 she thought the district would finish the year with about $1 million, and according to the final budget report, she was right. As of July 1, 2016, HPSD had $939,598.40 in its fund balance.

In that same board meeting, Coaker attributed the end-of-year savings to budget cuts and spending freezes the district implemented throughout the first half of 2016, saying the district was actually under budget in expenditures as of the end of May.

Also included in the report, the finalized 2016-2017 budget. According to the report, the district expects $36,255,378 million in general fund revenues, up slightly from the $36,087,078 amount proposed in its June 17 budget hearing. That increase in revenues is likely because the district's proposed expenditures are down from the amount announced in that same budget hearing. The approved budget has the district spending $33,585,151.87 instead of the initial $34,172,029. 

“I think it’s a good budget," Coaker said. "I think it’s a livable budget. It’s just one that we obviously have to commit to and make our plan.”

By spending less, the district is planning to save $2,670,226.13 to begin rebuilding its depleted general fund.

Copyright WDAM 2016. All rights reserved.

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