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Finance update: district deficit narrowed after Kids Plus reconciliation and health‑care estimate improvements
Summary
Chief finance staff reported a narrowing estimated deficit to about $680,000 after recovering $1.6 million from Kids Plus and improved health‑care estimates; the board discussed substitute and overtime pressures and school lunch negative balances.
Cabarrus County Schools finance staff told the board on May 5 the district has sharply reduced its previously projected deficit following a series of adjustments, though some budget pressures remain.
Philip Penn, chief finance officer, said recent analysis identified higher overtime and substitute costs that increased spending earlier in the year; substitute costs had reached approximately $2.9 million year‑to‑date. At the same time, updated…
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