School district faces reduced state funds

Proposed budget
will mean dipping
into reserve fund
By Rupert Howell
South Panola School District trustees saw a proposed budget of $42,554,305 during a budget work session prior to Tuesday’s monthly meeting that also included revenues of a lesser $41,523,850.
District Financial Director David Rubenstein predicted revenues one percent less that the previous year noting cuts from the state level. South Panola can dip into their fund balance, to make up the difference in predicted revenues and expenditures for the coming fiscal year, but noted the following year with the loss of two major taxpayers, Batesville Casket and Tri-lakes Hospital, might make a more difficult budget scenario.
Trustees will meet again at noon Thursday, June 29 for a public hearing on the proposed budget before deciding to officially adopt it for the coming fiscal year beginning July 1.
Mississippi Adequate Education Funds (MAEP) from the state make up the lion’s share of revenue, accounting for $19,889,049. Added to other state sources the total is $22,529,647.
Local sources include ad valorem taxes, local taxes on property, and amount to $9,240,000, approximately 22 percent of the budget. The total amount from other local sources, $12,497,150, includes a $900,000 donation by Cooperative Energy,  the tax exempt power cooperative with a generating station in Batesville, who annually bequeaths funds to both Panola County and South Panola School District.
Superintendent Tim Wilder noted during the work session that the cooperative has, “been good enough to tell us their intentions so we can plan (the budget),” while noting the $900,000 is coming for at least the next two years.
Federal sources make up the other portion of the budget amounting to $6,457,764. Rubenstein reminded trustees of the loss of 21st Century funding amounting to hundreds of thousands of dollars annually that was denied to many districts after mismanagement at the state level.
Other information revealed during the work session included that South Panola District’s annual cost per student is $9,071, $600 less than average in the state, while general administration costs are lower than state average and school administration is slightly higher.
South Panola has 334 teachers, 177 (53%) having bachelor degrees and the remainder have masters degrees or higher (47%). The average teacher salary for those working the 187 day schedule is $42,642. Fifty-five of South Panola teachers hold a National Board certificate.
Debt service for the school district totals $4,910,000, an amount Wilder said was, “Almost nonexistent for a school our size.”