Milan News-Leader: Extra cash from state helps Milan Area Schools approve balanced budget
Milan Area Schools was able to pass a balanced budget without cuts because of an extra $120 per-pupil from the state, the Milan News-Leader reported.
Milan, Lincoln and Whitmore Lake school districts in Washtenaw County all received a foundation allowance increase per the state of Michigan’s fiscal year 2013 budget that was approved at the beginning of June. These three districts were among the state's lowest funded.
Milan will use about $2.4 million of its fund equity, or main savings account, according to the News-Leader, and about $388,000 in additional revenue from the state’s per-pupil boost to balance its budget. The $388,000 was computed using Milan’s fall 2011 head count.
The district will leave a projected $152,627 in its fund balance for next year and have to borrow about $1 million to make payroll over the summer, the Leader reported.
The Milan Board of Education passed the nearly $25 million budget unanimously last week, the Leader said.
Read the full New-Leader report here.