A $900,000 cut in state funding and increased costs for health insurance last school year used up all reserve funds and carved a $115,000 deficit for the Commerce Board of Education.
Finance director Ann Stokey told the board Monday night that a plan is under way to eliminate the deficit.
A major part of the plan is the 1.25-mill increase in property taxes, which will bring in substantially more revenue than the shortfall. But Stokey said the system also expects a substantial check from the state at the mid-term adjustment for Early Intervention Program personnel, due to a reworked formula that increases revenue. It has also cut seven 49-percent employees.
City schools end fiscal year with $115,000 deficit
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#1
Anonymous
on
10/14/12 at 08:54 AM
[Reply]
If some of those higer up that make 100,000 a year plus to do nothing would take a pay cut you wouldn't be in that shape!
#2
Tiger fan
on
10/18/12 at 10:46 AM
[Reply]
No wonder the primary & elementary tell you your kids are having trouble reading and etc .... they do that so they can put them in early intervention and the more they put in the bigger the check!
#3
Bucky
on
10/19/12 at 11:36 AM
[Reply]
One question how much does the school spend on the sports program that has nothing to do with teaching kids and would that money cover the negative balance. How about school sports be like the rec department and private schools parent funded. Ohh woops did I say that I might get ran out of town. So stop asking for money money if a charter school can give better education with 40% of the public school funds I do not feel sorry for the school. I feel sorry for the kids.
