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Finance chief warns district faces multi-year deficits; BFSA seeks revised four-year plan
Summary
District finance staff told the board the Buffalo Fiscal Stability Authority expressed concern about city and district fiscal projections; the district projects roughly a $60 million deficit next year, must submit a revised four-year plan, and is preparing an RFP for consultant support on potential school-closing options.
The Buffalo City School District s finance team told the board that the district projects a roughly $60 million general-fund deficit for the coming year and that the Buffalo Fiscal Stability Authority (BFSA) has pressed the city and district for plans to address projected shortfalls.
Chief Barnes summarized a recent BFSA meeting and said the BFSA raised concerns about the city s fiscal outlook and the district s cumulative deficits. "They verified the accounting of our six-month results…
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