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IT'S OFFICIAL: GREENWOOD HEADING TO REFERENDUM
Tuesday, January 19th, 2010 -- 11:41 am
Posted by Riley Hebert-News Director
 Greenwood school district residents will be faced with another revenue cap exemption referendum in April.
During a marathon meeting that didn’t adjourn until after midnight, the school board approved a resolution authorizing the district to exceed the revenue limit by $500,000 for six years.
The referendum will go to voters during the Spring General Election on April 6th.
If approved, the exemption will be in place through the 2015-2016 school year.
The district is currently operating under a 5-year, $500,000 cap exemption that will expire at the end of the year.
According to past reports, the district has a fairly healthy fund balance of around $1.3-million, but that will disappear quickly if they lose a half-million-dollars in annual revenue.
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