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Fort Zumwalt finance chief warns of $600,000 hit this year and multimillion-dollar ongoing shortfall from state funding changes
Summary
Finance staff told the board the district faces a roughly $600,000 reduction this year from a state high-needs fund shortfall and said a lowered state adequacy target will cut district revenue by about $4 million annually unless the state reverses course.
Brian Woodall, the district finance presenter, told the Fort Zumwalt R-II Board that the district’s revenue projections changed after the state announced a shortfall in the high-needs fund and an adjustment to the state adequacy target. He said the district’s share of the high-needs shortfall is about $600,000 this year.
Why it matters: Woodall said the other, larger change is the state adequacy target used in the funding formula. He described that revision…
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