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New Haven schools project $2.4 million year-end deficit; district outlines possible $1.4 million improvement
Summary
Interim finance staff told the Board of Education—s finance committee that preliminary, unaudited results through June 30 show a $2.4 million deficit that could fall to about $1.4 million depending on pending city and state credits and outstanding invoices.
Mister Hernandez, the district—s finance presenter, told the finance and operations committee on Aug. 18 that the preliminary, unaudited general-fund results through June 30 show a shortfall of $2,398,000 and that figure could fall if several revenue and credit items are confirmed. "This is a preliminary report," Hernandez said as he opened the presentation.
The report presented a systemwide preliminary total of $306.8 million in expenditures across general and special funds, with $210.6 million recorded in the general fund and $96.2 million in special funds. Hernandez said the accounting system initially showed an $8.0 million deficit before staff recognized several near-term credits that will reduce the projected shortfall.
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