Board hears 5-year financial projection

New Prague Area Schools will meet its financial goals through at least the 2019-20 school year, according to financial projections prestented by Sandy Linn, finance director, at the Monday, Feb. 12, school board workshop.
Linn presented a five-year financial projection to the board at the meeting. She said she makes this presentation every February, after the audit has been completed and final budget for the current year is adopted.
 
Assumptions in making the projections include a two percent formula increase annually, a $100 per student increase in the operating levy that was approved by voters in November and modest negotiation settlements.
 
Other assumptions include a slight enrollment increase, as projected in November, revenues coming in one-half percent above budget and expenditures at 1 percent below budget.
 
Based on all assumptions, projections show the district meeting its fund balance goal through the 2019-20 school year, then seeing a decrease in subsequent years.
 
Factors that could affect the projections include changes made by the state legislature, salary settlements, changing class size guidelines and changing enrollment figures.
 
Superintendent Tim Dittberner said that the district has always been frugal and will need to continue.
"We haven’t had a lot of extra spending. We may have to look at future staffing levels. It’s all hard to predict, enrollment is the key," he said.
 
The district has been using....
To see more on this story pick up the February 15, 2018 print edition of The New Prague Times. 

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