School board adopts $3.2 million budget

West Shore News

The Somers-Lakeside school board adopted a $3.2 million general fund budget to operate from for the 2010-11 school year at its meeting last week.

That budget is an increase of nearly $119,000 over last year's budget. Still, due to added expenses for this year, the district had to take action this spring to balance a $164,000 shortfall.

The biggest obstacle was a 47 percent increase in the district's health insurance premiums for employees.

After shopping around to other insurance companies, the district opted to stay with its current provider, Montana Unified School Trust, and renegotiated to take that increase 15 percent a year over three years as well as put off an assessment that would be due in two years for three.

The other way the district was able to reduce that deficit was by offering an early retirement incentive this spring.

Five teachers in the district opted to take that incentive. Those teachers will receive $5,000 deposited into an annuity account annually for five consecutive years.

The district has estimated the savings per teacher who took the incentive could be as much as $140,000 over the course of five years.

By hiring brand new teachers to fill those positions, the district was able to bring the budget into the black.

Also at the meeting Aug. 10, the board voted to move its monthly meetings from Tuesdays to Mondays during the third week of the month.