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Memphis-Shelby County Schools report $33M revenue drop in first quarter, outline capital projects
Summary
MSCS presented first-quarter financials showing a net $33.2M revenue decrease year-over-year (timing and charters cited) and $9.5M net expenditure increase driven by salaries and benefits and ESSER-funded capital projects. The district said a comprehensive facilities plan will be released to the board next week.
Memphis-Shelby County Schools officials told Shelby County commissioners the district's first-quarter finances include a $33.2 million net revenue decline compared with the prior year, driven largely by timing changes in state and federal pass-throughs and a reduction in charter pass-throughs.
Chief Tia Langston said local investment income and countywide receipts were up, but state payments were down roughly $20 million year-over-year and federal funding…
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