Revenue and Expenditures
Local sources make up 97% of school district revenue. The largest category is ad valorem taxes, which makes up 83% of total local support, followed by school support taxes and a motor vehicle privilege tax. In 2004 the Eureka County voters passed a school bond measure of $6 million. The Bond proceeds will pay for an addition to and remodelling of the Eureka County High School.
The table and line graph on the following pages show school district revenues and expenditures for the years 1995-2005. Both revenues and expenditures dropped over the 1995-2004 period. During the years 2000 to 2004 expenditures were higher than revenues. In 2005, however, revenues increased sharply while expenditures continued to drop, making school district revenues higher than expenditures for the first time in four years.
The following table shows that in 2005 spending for regular, vocational and other instructional programs was approximately 48% of overall expenditures. Undistributed expenditures, which include spending for administration, operation and maintenance of facilities, student transportation, and facilities acquisition, also made up 48% of school expenditures.
In addition to its general fund, the school district maintains several special revenue funds. One of these, the District Special Education Fund, is maintained with operating transfers from the general fund; the other funds account for federal or state grant revenues for programs including Schools to Careers, disabled education, special education aides, and others. Most funding for special education comes from these categories. The School District also maintains a Capital Projects Fund to provide for the purchase of capital assets, and a Building and Sites Fund, which was created to account for receipts from rental and sale of school property, gifts to the school district, and monies from the Federal government for construction of school facilities. Expenditures from this fund are limited to constructing, remodeling or enlarging school facilities. At the end of June, 2002, the balances in these funds were a total of $485,080.