School finance chief warns of more than $14 million in possible revenue losses over three years

Anthony J. Mundane, vice president of the board of education, opened a special meeting Feb. 10 at central office and turned the floor over to the district's financial presenter, Dr. Hurl, for a budget update.

Dr. Hurl said the district's most recent audited fund balance was 40.82% but cautioned parts of that figure reflect timing differences in summer-school payments. He told the board he had previously recommended keeping fund balances above 30% to guard against shocks.

"We are sitting at 40.82%," Dr. Hurl said. He described the current forecast as the "good, the bad, and the ugly," and said that while some pressures were expected and planned, a combination of factors threatens the district's revenues.

The presenter said the district is projecting roughly $9.5 million in planned deficit spending, driven largely by the large salary and benefit increases the district granted in recent years. He added that enrollment is down 524 students compared with the same time last…