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.
