The Frankfort Independent Schools board unanimously passed a working budget for the 2019-20 school year at its Monday night board meeting.
All Kentucky school boards must submit a working budget to the state Board of Education by Sept. 30, according to state law.
FIS Finance Director Tom Arnold said the budget was made to be conservative and that staff “worked hard” to put it together before the board meeting.
The working budget has a grand total of revenues and expenditures of about $12 million. The contingency fund is about 4.3%. School districts must have at least a 2% contingency.
Arnold told the board that the contingency amount was good as it has a margin if needed. He said that the working budget also includes a salary increase for certified and classified employees, which Board Chair Jina Greathouse said could be made possible before the board set a new property tax rate earlier in the meeting.
Arnold noted that $45,000 is in the budget to refresh aging devices.
“We do have some growth there,” Arnold said of the school district’s SEEK funding, or Support Education Excellence in Kentucky, from the state, though he said the district will not have an exact number until the end of the month. Last year, the district received about $3.5 million in SEEK funds.