Budgeting Another School Year

Budgeting Another School Year

OKEMOS - Budgeting for the next school year has been going on for months. The state requires that schools adopt their budget by June 30 of every year.

The state recently adopted a new school aid budget for the 2014-2015 school year, which offers districts anywhere from an additional $50 to $175 per student.

Districts like Okemos Public Schools have seen what is called a “2x” formula, where the lowest compensated districts have seen roughly twice as much as the highly compensated ones.

Okemos Schools will be receiving an additional $50 per student, but the Director of Finance, Bob Clark, says that’s not enough.

“The net revenue, so to speak, from the state of Michigan for ’14-’15 is going to be roughly $50,000 less than we received in the current year, which does not help us at all. In fact, it hinders us a little bit,” said Clark.

The escalating costs of retirement and healthcare rates are resulting in a decreasing revenue per student. Like Okemos, many schools are worried about K-12 funding in Michigan.

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