Inspiring Excellence
School Funding
School funding information for Lake Stevens School District
In a recent poll, we received feedback that our district could be more transparent about our budget and budgeting process. In an effort to increase transparency, we are launching this new budget page. If you have budget-related questions, please submit them to tellus@lkstevens.wednet.edu.
The basics of school funding
Our operating fund come from five main buckets:
- General Fund: All yearly costs for running the school district. This includes salaries and benefits for all staff, as well as expenses for school and district supplies, materials, utilities, educational resources, insurance, fuel, travel, and equipment purchases.
- Capital Projects Fund: Costs for constructing new schools, remodeling current ones, upgrading technology through bonds or levies, buying land, and small health and safety improvements.
- Debt Service Fund: Collection of property taxes to repay bond and interest expenses.
- Associated Student Body (ASB) Fund: Supporting student government, co-curricular, athletic, recreational and club activities.
- Transportation Vehicle Fund: Uses for the purchase of new school buses
More detailed information offered below.
General Fund
The general fund accounts for the majority of funding for the district. But what makes up the general fund? Funding comes from four main sources: the state, the federal government, local funding measures, and grants and other programs.
Revenue from the state is primarily based on student enrollment.
Revenue from the federal government helps to level the educational playing field, especially for students from low-income families, students who need targeted learning support, students with disabilities, and other marginalized groups. School districts also receive federal funding for nutrition services and emergency response.
Local funding measures include the Educational Programs and Operations levy (EP&O). The EP&O levy accounts for 11.4% of our overall budget.
For more information on the EP&O levy, visit our Levies & Bonds webpage.
Capital Projects Fund
The Capital Projects fund includes construction of new schools, remodeling of existing schools, safety and health projects, and projects funded through bonds and the Technology Levy.
For more information on the Tech Levy and bonds, visit our Levies & Bonds webpage.
District ASB Fund Balance
ASB is designated as a Special Revenue Fund. This fund is financed, in part, by the fees from students during attendance at extracurricular events of the district, like athletic games.
Money in the ASB fund is then used to support student participation and operation of these extracurricular activities.
Preliminary Expenditure Reduction Plan
As we showed above, our budget comes from many sources, the main two being state funding based on student enrollment and the EP&O Levy. Though our enrollment is somewhat flat, we still need to reduce expenditures for the upcoming budget cycle. We are not alone in this, as many districts in our state are experiencing a similar dilemma.
Annual budget
Districts are required to produce an annual budget every year. You may review our annual Citizen’s Budgets.
Flyer - Basics of School Funding in LSSD
