Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Gadsden ISD finance chief warns of $14.3 million budget shortfall, outlines savings plan
Summary
Chief finance presenter Ludin Martinez told the board the district’s preliminary operating budget shows $180.8M in revenues versus $195.1M in expenditures, producing a $14.3M budgeted deficit. She outlined reliance on SEG funding, projected enrollment losses, drawdown of reserves, and measures such as attrition, hiring freezes and a retirement incentive.
Ludin Martinez, the district finance presenter, told the Gadsden Independent School District board that the district’s preliminary operating budget shows total revenues of $180,800,000 against estimated expenditures of $195,100,000, producing a budgeted deficit of $14,300,000.
“The top of the page…our total revenues are a $180,800,000,” Martinez said in the presentation. She noted the State Equalization Guarantee (referred to in the presentation as SEG/SCG) makes up the vast majority of district revenue and that personnel costs account for roughly 91% of those revenues.
M…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
