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LOYAL WILL LIKELY SEEK CAP EXEMPTION
Friday, July 18th, 2008 -- 1:40 pm
Posted by Riley Hebert-News Director
It won't happen this fall, but the Loyal school board will likely have to ask district voters for more money next year.
Superintendent Graeme Williams says the board will review a financial study next week.
The district projects a $200,000 deficit for the next school year, but because they've already decided to reduce one principal position and make other cuts, they'll be closer to even.
But, they're projecting a $300,00 to $400,000 in the following two school years.
Williams says it's likely the district will go to voters with a revenue cap exemption referendum next spring. The amount will likely be in excess of the projected deficit.
While it's hard to confirm, Loyal is believed to be one of the only districts in the area that has never attempted a revenue cap exemption referendum.
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