By Melissa McCaghren
The Slaton Independent School District board of Trustees listened to the Annual Financial Report for the 2022-23 Fiscal Year Thursday evening (Dec. 14) during its regular meeting.
The District has a three month emergency fund, and saw an increase in appraisal values, leading to an increase to $6 million in local revenue from about $5.5 million.
They also saw a reduction of debt service because more bond payments have been made. The District also saw a transitioning of costs back to the general fund as moneys from items such as the COVID rescue fund start to phase out. The increase in tax revenue from appraisals in turn decreased State funding for the District.
There were several costs listed that lead to an increase in expenditures, such as new construction on the Tiger Den, batting cages for softball and baseball and other items.
Trustees also approved the purchase of a new Expedition SUV from Smith Auto Family for $55,926. Financial officer Art Martin said the District was replacing one that was totaled in a wreck in Andrews County during football season, and was working with TASB as far as insurance issues. There were two bids presented, one from Smith Auto and another one from Waggoner Jeep in Dallas.
For more information, including other items addressed by the board, please read the Thursday edition of The Slatonite.