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LOYAL READY TO APPROVE REFERENDUM AMOUNT
Wednesday, July 28th, 2010 -- 1:54 pm
Posted by Riley Hebert-News Director
After meeting with their financial adviser and mulling over the numbers, it appears the Loyal School Board is set to put a price tag on an upcoming referendum.
Superintendent Graeme Williams says the board will likely approve a resolution at their August 18th meeting to send a 4-year, $697,000 per year revenue cap exemption referendum to voters on November 2nd.
Williams says the district’s projected budget deficit is about $200,000 for the next fiscal year, and gets considerably worse after that. The average deficit over the next four years is projected at $697,000.
Last April, voters in Loyal turned back a three-year, $500,000 per year revenue cap exemption.
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