If anyone had told Supt. Greg Gray after he arrived 10 years ago that Brighton would have a fund balance of $6 million in 2019, he says he wouldn’t have believed it. It’s been a huge turnaround for the district, which at one time was $15 million in debt.
In her budgetary report at Monday night’s meeting, Assistant Superintendent for Business and Finance Maria Gistinger told the board that fund equity for the 2018-19 fiscal year ending June 30 will be a healthy $6.1 million. In her projections for the 20-21 fiscal year, Gistinger is forecasting the addition of another $1 million, for a fund balance of $7.1 million by June of 2020. That would approach the elusive 10% goal – her goal of having a fund equity that equates to 10% of the district’s total annual budget.
Gray, who credits Gistinger for much of the district’s financial success, tells WHMI that such a position is an enviable one for any school district to be in. Gray says the revised budget for the current fiscal year ending June 30th shows spending at $76,900,000 – a 5.8% increase over the original budget. And the projected budget for the 19-20 fiscal year starting July 1st shows spending at $77,900,000 – a 7.2% increase over the original budget for the current fiscal year. The amended budget, and the budget for next year, will be formally voted on at the June 24th board meeting. (TT)
Photo: Assistant Superintendent for Business & Finance Maria Gistinger