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Southside ISD finance chief warns budget shortfall as SHARS funding falls short
Summary
CFO Carlos Corrales told the board the district faces a tougher revenue outlook for its $71 million budget after revised SHARS funding; the district has adopted a deficit budget and plans conservative spending and possible early debt defeasance.
Southside ISD’s finance chief told the board Monday the district’s projected revenue will be difficult to reach this year after expected SHARS (State Health and Related Services) reimbursements did not materialize as budgeted, contributing to a shift to a deficit budget.
Carlos Corrales, the district’s finance director, reviewed March financial statements and said the district’s adopted annual revenue target of about $71,000,000 is unlikely to be met given the SHARS shortfall.…
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