Mojave Board OKs budget for fiscal year
MOJAVE — The Mojave Unified School District Board of Trustees approved a positive budget for the 2022-2023 fiscal year, one that projects positive balances, for the next three years.
The budget, unanimously approved by the Board, on June 30, shows $50.24 million in spending in combined general funds, for the coming year, with funding of $50.35 million.
The budget includes some continuing discussions regarding state funding in regards to cost-of-living adjustments stemming from the May state budget revisions, Assistant Superintendent for Business Services Keith Gainey said.
The cost-of-living factor was increased from 6.92% to 6.93%, over three years, he said, which increased the budget from $2.3 million to $2.5 million over what was presented initially, on June 9.
But changes in expenditures balanced out the costof-living adjustments, he said.
The budget shows a positive balance, after setting aside the state-required 3% reserve and the Board-required 2% reserve, of $580,929, at the end of the 2022-2023 year.
Additionally, using forecasted funding revenues and expenses, the following two years also show positive balances, after accounting for reserves, of $669,725 in 2023-2024 and $793,628 in 2024-2025.
Positive balances in these out-years are required for a budget to receive a positive certification, showing the district expects to meet its needs for the coming three years.
The majority of the District’s funding comes from the state through the Local Control Funding Formula. For 2022-2023, this amounts to $36.68 million, up from the previous year’s $33.49 million. These funds are used for meeting the District’s educational goals as laid out in the Local Control and Accountability Plan.
General operating and Districtwide expenditures such as utilities, the governing Board, Superintendent and principals, insurance and legal and other professional services are not included in the LCAP funding, Gainey said.
Other, smaller funding sources are from other state and local sources and federal funding.