The Santa Monica-Malibu Unified School District last week approved its final budget for the 2004-05 fiscal year, which begins Thursday, July 1st.
The district projects revenues of $103,035,505 and expenditures of $103,011,295, according to a written report prepared by district superintendent John Deasy and chief financial officer Kenneth Bailey.
Student enrollment is estimated at 12,714. The district expects to receive $121 per student from state lottery revenues.
The state also agreed to provide a 2.41 percent cost-of-living adjustment increase for the School Improvement Program, Gifted and Talented Education and other “state categorical programs.”
Revenues will also come from local parcel taxes and the cities of Santa Monica and Malibu:
Measure S, which taxes property owners $225 per parcel, will provide the district with approximately $6.5 million.
Measure Y, under which property owners pay $106.52 per parcel, will provide the district with approximately $3.4 million.
Funding agreements with the City of Santa Monica and the City of Malibu will provide the district with $6 million from Santa Monica and $290,105 from Malibu.
Lease revenues from DoubleTree Hotel, the Santa Monica Community College District and others total $1.4 million.
The bulk of the school district’s expenditures are for certificated salaries, employee benefits and classified salaries.
Included in the expenditure budget is a one percent salary increase for certificated personnel, a 15 percent increase in employee health benefits and five new computer technician positions.
Certificated and classified salaries are approximately $69 million. Employee benefits cost the district approximately $20 million.