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Levy County finance staff warns of possible $1.5 million shortfall as enrollment and voucher growth cut state funding
Summary
Finance presenter Miss Lake told the Levy County School Board during a budget workshop that changes in the state education budget, rising retirement and insurance costs, and scholarship growth could leave the district roughly $1.5 million short and reduce reserves unless the board uses fund balance or cuts spending.
Miss Lake, a district finance staff member, told the Levy County School Board at a finance/budget workshop that state changes and local enrollment losses leave the district facing a potential $1.5 million deficit and downward pressure on reserves.
"This meeting is not the start of TRIM," Miss Lake said as she opened the presentation and walked the board through the district's timeline and state calculations. She described the newly released Senate Bill 2500 and the third FEFP calculation as the basis for the district's preliminary figures.
The presenter said the state education budget rose from about $15.6 billion to $15.8 billion in the most recent proposal, a 1.73% increase, while the district's base student allocation (BSA) increased by roughly $42 (about 0.78%). She warned that some categorical funding was moved into new line items and that private-school voucher funding continued to grow faster than the BSA.
"Private school voucher funding has increased by 3%,…
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