The board of the Lebanon Special School District has unanimously passed a $34.5 million general-purpose fund budget for the 2020-21 fiscal year. The board met July 29 to discuss the budget.
The budget was presented by LSSD Director Scott Benson. In revenues, the district estimates a total of $59.5 million overall of the various budgets, including the general-purpose fund, central cafeteria fund, extended school fund and capital projects.
Expenses will be the same as revenues, balancing the budget. The district estimates they will have approximately $9 million in the district’s general-purpose fund balance.
The overall budget includes $23.1 million for instructional funds, $24.1 million which is in the general-purpose fund and $1l.7 million that comes from federal monies.
There will also be $15.6 million for capital projects, which will be used for the new Jones Brummett Elementary School.
“We are very pleased with how the budget came together,” Benson said. “The CARES Act money and growth money from BEP (because we are a growing district, not because the state gave more money) really helped with the added expenses related to COVID-19.”
Benson said that although there was no new money from the state for teacher raises, all of the LSSD teachers are receiving a raise this year as a result of the ½-cent sales tax referendum passing.
“We restructured our teacher salary schedule this year to make our step raises more equitable for teachers as they gain experience in the district. As a result, the average teacher raise in the district is approximately $2,000.”