It’s even worse than many thought.
Although Jackson County School System leaders have been talking for months about the system’s difficult finances, the latest draft budget shows an even worse picture than previously believed would exist by now.
In a draft budget presented to the Jackson County Board of Education last week, officials now project that the system will only have $1.5 million in reserves at the end of this fiscal year on June 30. That puts the system in virtual crisis mode to avoid a financial collapse in the upcoming fiscal year. The BOE is scheduled to adopt its FY 2014 budget next month.
The board discussed the budget at a work session meeting last week. Although the system had planned to reduce the number of furlough days next year, it now looks like more furlough days are needed. In addition, further staff cuts are now likely. The system recently adopted a consolidation plan to cut some system costs as well.
For the full story, see the May 15 issue of The Commerce News.