Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Education Finance topic
No spam. Unsubscribe anytime.
Finance committee warned of anticipated multi-year deficits; strong fund balances give time for measured response
Summary
District staff told the Finance Committee they are preparing conservative three-year projections that currently show deficit spending this year and for the next three fiscal years, but said strong fund balances would allow a measured response rather than immediate cuts.
Dr. Gordon, a staff member for Rankin CSD 98, reported that he and Michelle Gaddy are preparing three-year financial projections that "show the District is anticipating deficit spending for this fiscal year and then for the next three fiscal years." He said the projections were constructed conservatively — estimating revenues higher and expenditures lower — but that expenditures are rising faster than revenues.
Dr. Gordon told the committee the analysis is ongoing and he hopes to refine the projections in the coming months. He emphasized the district remains in "positive financial shape overall" because of strong fund balances, which would allow the Board of Education to take a measured approach and examine options instead of making immediate decisions if deficit spending continues.
Committee members did not take formal action at the meeting; staff were encouraged to continue work on the projections and present updated figures to the BOE for further consideration.
