ONSTED — The Onsted Community Schools Board of Education reelected its officers for the year on Monday.
The board’s semi-annual organizational meeting was opened by Superintendent Steve Head. Head called for nominations for board president, to which Todd Gentner was retained in a 4-0 vote.
With Gentner reinstalled as board president, the board resumed its meeting and reelected Keith Williams as vice president, Kevin Brooks as secretary, and Roger Curtis as treasurer.
Curtis and trustees Steve Robinson and Jason Terakedis were absent from Monday’s meeting.
The board voted to retain Meredith Francis as the district’s auditor before approving budget amendments for the 2017-18 fiscal year.
The mid-year financial course correction — a typical scenario in the middle of the school’s fiscal year as a more complete picture of financial help from the state is known — saw a reduction in anticipated revenue. The budget as adopted in June projected $15.2 million in revenue. On Monday, the budget income was reduced to $15 million. Part of the reason, Head said, is because of a 72-student reduction over last year’s figures. While the school district factored in some student loss ahead of the fall count, Head said, the lower numbers translates to an approximate reduction of $500,000 in per-pupil state aid. Onsted receives $7,631 for each student from the state.
Expenses, however, are projected to increase for the remainder of the year, from $13.2 million as adopted to $13.4 million. The updated difference between revenue and expenses is $378,639.
The school’s fund balance is now set to stand at 12.24 percent, down from the original 15.18 percent as of June 30. The fund equity still is within the financial-advised 10 to 15 percent.