Obion County Board of Education
December 5, 2011

Background Information:

After the Board adopted the School Federal Projects Budget for the Fiscal Year Ending June 30, 2012, we were notified of an additional award of funds through the Education Jobs Program. These funds were distributed to the States and the Department of Education allocated the funds to the school systems based upon the Basic Education Program (BEP) funding formula. Obion County was awarded an additional $13,112. These funds can only be used for school-level employee compensation and benefits necessary to, among other things, retain existing employees. The salaries, with related benefits, in this budget will be transferred from the General Purpose School Fund and represent positions retained above and beyond those positions funded through our normal BEP allocation for salaries and benefits. This is a one-time distribution of funds; therefore, to be fiscally responsible, we must use these funds for non-recurring expenditures. The positions transferred into this program for the 2011 – 2012 fiscal year will be transferred back to the General Purpose School Fund for the 2012 – 2013 fiscal year. A resolution is attached for the Board’s consideration.

Staff Recommendation:

I recommend approval of the amendment to the 2011 – 2012 fiscal year budget for the School Federal Projects Fund.