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Board hears stark budget gap and debates using Smart Schools funds vs. general-fund purchases
Summary
Administrators presented a projected $7.5 million budget gap and two budget variants; board members and finance staff debated whether to use Smart Schools capital funds or general-fund expenditures (and possible borrowing), raising concerns about reserves, reimbursement rates and fiscal-stress ratings.
Superintendent and finance staff briefed the board on near-term budget pressures, a projected $7.5 million gap and scenarios for closing part of the shortfall without program cuts, layoffs or raising the property tax levy.
Julie (finance staff) said foundation-aid estimates were revised downward after a state recalculation with updated enrollment figures (a loss of ~40 students reduced projected aid by roughly $565,000). The districtalso reported reduced interest income and other market effects.
Administrators said last year's use of reserves was $4.83…
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