The Board of Education unanimously approved a balanced operating budget of $234 million for the 2019-2020 school year during its June 6 meeting.
According to Rockwood Superintendent Dr. Eric Knost, the budget reflects an ongoing commitment to good stewardship and accountability. “We support our students in a fiscally sound way, as we remain accountable and transparent to our community.”
Important considerations for the 2019-2020 operating budget:
- Recognizing the skill and experience of Rockwood employees: Employee salaries and benefits comprise 86 percent of the operating budget. The budget includes increases in employee salaries as approved by the Board of Education.
- Providing for Student Transportation: The budget includes a lease payment for additional school buses that aligns with a refresh plan to allow for updates within the Rockwood fleet.
- Funding Capital Needs: The annual budget includes the funding of capital projects from the 2017 bond issue approved by Rockwood voters. The bond issue focused on the need for additional space in Rockwood schools and continued support for STEM/innovation efforts, and the second installment of the 2017 bond authorization is scheduled for fall 2019.
Chief Financial Officer Paul Northington noted that revenue and expenditure budgets are comparable to the current school year. The debt service fund continues to be sufficient to satisfy current debt obligations. "Rockwood School District is an award-winning district with exemplary students, staff and resources," says Northington. "We are thankful for the loyalty and support of our taxpayers, the vision of the Board of Education, the dedication and hard work of fellow employees and the success of our students. In return, we promise to thoughtfully and prudently spend the funds entrusted to our management and care."
Rockwood has a history of strong financial management that has been independently recognized by numerous organizations. In addition, Rockwood is one of only four school districts in Missouri to receive a AAA bond rating from Standard & Poor's. The AAA rating is reserved for those organizations with the utmost financial strength and discipline in meeting all financial commitments.