Public schools project deficit spending

April 9, 2013
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The Oconee School District’s finance officer says to fund the administration’s recommended budget for next year will require deficit spending. During a non-voting meeting last night, Gloria Moore provided figures to county trustees. Estimated expenes for 2013-14 exceed $88.6 million, while revenues are anticipated at $86.8 million, leaving a deficit of $1.7 million. Dr. Mike Lucas, district superintendent, recommends the board once again draw from its fund balance to make up the deficit, which would mean the district would not look to County Council to add taxes for general school operations. But Lucas hinted that next year should be the last year for raiding the fund balance which is projected to amount to $20.1 million by June 30.

 

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