The Frankfort Independent Schools board heard a report on the working budget for fiscal year 2023 at its meeting Monday.
In a special-called meeting Thursday, the board approved the working budget.
“I am very pleased with this budget,” Board Chair Jina Greathouse said. “I think it’s a very healthy budget and will lend itself well in the future to potentially meeting some of the needs that will remain after ESSER (Elementary and Secondary School Emergency Relief) funding is gone.”
FIS has a beginning balance of $2,159,213 in its general fund. The total budget in the general fund is $11,967,362, and the total of all funds is $16,578,664.
The budget includes a contingency fund of $1,194,409, which is 9.22% of the general fund budget.
The board must include a minimum reserve of at least 2% of the total budget for the general and food service funds in its contingency fund.
“I think it’s important to say again that our contingency is above 9% and hoping to carry more forward after this year just to make that more robust for the district,” FIS Superintendent Sheri Satterly said.