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LOYAL SCHOOLS FACE BUDGET SHORTFALL
Monday, September 18th, 2006 -- 11:06 am
Posted by Riley Hebert-News Director
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.
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