Stewardship: A District Value
Orono Schools is committed to demonstrating constant accountability through responsible planning and use of resources. In an analysis over the past 19 years, audited financial records show the district, on average, controls actual costs to within a half-percent each year compared to the budget that the School Board approves.
The total budget consists of eight funds, each dedicated for a specific purpose.
Budget Categories and Funding Sources
General Fund (main operating budget)
Finances all operations of the district that are not accounted for in one of the special purpose funds. These expenditures include salaries, employee benefits, insurance, instructional materials and textbooks, student transportation, equipment, utilities, cleaning and maintenance. Funding source: state aid, federal grants and property taxes
Food Service Fund
Maintains a lunch program for students and staff. Funding source: sale of meals; state and federal aid
Community Education Fund
Services residents in the areas of youth programs, adult education, recreation and community activities.
Funding source: user fees, state aid, federal grants and property taxes
Capital Expenditure Fund
Represents resources available for approved expenditures for capital projects, deferred maintenance, textbooks and technology. Funding source: property taxes
Building Fund
Uses the proceeds from authorized bond and capital projects referenda to finance major construction, remodeling projects, textbooks and technology. Funding source: bond issues approved by district residents
Debt Service Fund
Provides for payment of outstanding bonded debt incurred for constructing and remodeling buildings. Funding source: property taxes
OPEB (Other Post-Employment Benefits) Debt Service
Provides for payment of outstanding OPEB-bonded debt incurred for payment of OPEB liability. Funding source: property taxes
OPEB Bonds
Reports resources set aside and held in an irrevocable trust arrangement for OPEB.
Internal Services Fund
Accounts for the district’s self-funded insurance program. Funding source: transfers from other funds
Trust and Agency Fund
Escrows money for scholarships. Funding source: outside contributions
To view financial reports, budgets and property tax levies from a specific school year, please see links above on the left.