LOYAL SCHOOLS FACE BUDGET SHORTFALL
Monday, September 18th, 2006 -- 11:06 AM
The Loyal School District is facing a budget deficit this year as their revenue cap is set to increase by only 2-tenths of a percent while expenses are set to jump three-percent.This week?s TRG reports the current year?s budget will utilize over thirty-five-thousand dollars of fund balances to close the gap, but that?s a preliminary figure that could jump as high as $80,000 depending on open enrollment figures.
Next year, the budget gap could jump as high as $300,000 thanks to declining enrollment, the report says.
The board is expected to have to choose between major cuts or going to voters with a revenue cap exemption referendum.
Meanwhile, a task force looking into the feasibility of Greenwood and Loyal consolidating met again on Wednesday. Another meeting is set for Wednesday, September 27th.
Feel free to contact us with questions and/or comments.