Port Townsend: School district budget passed; revenues exceed spending

Published 12:01 am Tuesday, July 13, 2004

PORT TOWNSEND — The Port Townsend School District on Monday passed its first budget in at least five years in which income exceeds spending.

The $11.85 million general fund budget for the 2004-05 school year is more than three-quarters of a million dollars less than last year’s.

Four school board members voted unanimously for the budget after a public hearing Monday night attended by two people — a citizen and a reporter.

All told, the district hopes to have $407,284 left over at the end of the year, according to Business Manager Steve McIntire.

Cuts were made by having district program directors anticipate a 10 percent reduction in funding.

A voter-approved maintenance and operations levy passed in February helped, too.

“We’ve built, for years, a series of red budgets,” McIntire said.

In financial lingo, “red” refers to a budget in negative dollar amounts, while “black” is a positive gain.

Bigger financial cushion

Having $407,284 left over at the end of the year isn’t a lot, McIntire explained to an audience member.

“But the way to build up a bigger financial cushion is a series of black budgets,” he said.