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District projects multimillion-dollar deficit; board warned fund balance will fall without state action or local measures
Summary
Business services presented a midyear budget update showing higher-than-expected expenses on health plans and a projected deficit; staff said options include state aid, closures, staff reductions or a referendum.
Appleton Area School District business services staff told the school board Monday the district’s midyear financial review shows expenses running above original estimates and a projected operating deficit unless revenues change or spending is reduced.
Ali Burr, director of business services, presented financial snapshots through December and said the district’s forecasting tool currently projects a larger deficit than budgeted. “Our current model is putting us a little higher than we had anticipated with revenues, or expenses coming in higher than revenues at about $12,500,000,” Burr said.
Why it matters: Burr and other administrators told…
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