Now the fingers are crossed. The Jackson County Board of Education adopted its FY2014 budget last week, but that probably won’t put an end to the system’s financial crisis.
Although the budget doesn’t call for a tax hike, that could change this fall when the BOE sets its tax rate. Currently, the budget anticipates the tax digest won’t go down again this year, an assumption that could change when the final numbers are calculated in the fall. Last year, the digest dropped 10 percent, a situation that created a $3 million shortfall in the system’s budget.
Compounding the system’s financial picture is the fact that this year it used up almost all of its reserves. When the new fiscal year begins July 1, the system will only have about $1 million in reserves left. It began this fiscal year with a little over $6 million in reserves.
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