Fayetteville Board of Education
Minutes of the September 3, 2003 Special Meeting

The Fayetteville Board of Education convened at 3:00 PM for a workshop regarding the 2003-04 school district budget. The workshop was held in the maintenance conference room. Dr. Lisa Morstad, chief financial officer, reviewed the proposed FY04 budget. Dr. Morstad noted that she is projecting 0% growth in state funding and a small increase in local funds. She also reported that the district now has one month’s payroll in reserve.

Dr. Morstad provided an analysis of local tax revenues, including how projections of local revenue are made and how the Base Local Revenue Per Student (BLRPS) is calculated. She also presented several factors, which show how the Fayetteville School District compares with surrounding districts in areas such as facility costs and curriculum costs.

The Board was called to order in open session at 4:20 PM. Roll was called and board members Shannon McCuin, Laura Underwood, Howard Hamilton, Steve Percival and Susan Heil were present. Laura Underwood made a motion to approve the 2003-04 budget. Susan Heil seconded the motion, which passed by a 5-0 vote.

The meeting was adjourned at 5:15 PM.

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Stephen M. Percival, President Christine Bell, Secretary