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Chariho proposes $54.4 million budget

January 15, 2011

WOOD RIVER JCT. – The Chariho Regional School District superintendent's proposed budget of $54.37 million for fiscal year 2011-12 represents a 3.3 percent increase over the current year's voter-approved budget of $52.62 million.

Both of those budget figures include the respective year's estimated debt service for the Campus 2010 construction project, which is split equally amongst the district's three towns of Charlestown, Richmond, and Hopkinton. Last year, the town's each paid a third of the $625,623 debt service while the forthcoming year's debt service is estimated at $322,974.

After revenue and re-appropriated fund balance money is factored in, the total comes to $50.58 million. And at that amount, the town's would be contributing the following amounts: Charlestown would pay $14.39 million; Richmond $18.12 million; and Hopkinton $18.06 million. These represent an increase of 2.4 percent and 4.7 percent for Charlestown and Richmond, respectively, while Hopkinton sees a decrease of 0.2 percent.

The big change, however, occurs the school district applies projected state aid to education funding. According to Chariho Superintendent Barry J. Ricci, “one should look at the 2011-2012 contributions to the district after the receipt of state aid.”

Using preliminary funding formula calculations, Charlestown will contribute an additional $40,866, or 0.3 percent more, Richmond will contribute an additional $274,526, or 2.3 percent more, and Hopkinton will lower its contribution by $687,858, or 5.3 percent less.

The towns' payments to the district have fluctuated based on each town's total student enrollment in Chariho.

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