Deficit to be Discussed at School Board Meeting TONIGHT

The auditing firm of Yeo and Yeo will present its audit of the finances for 2014/15 school year at the school board meeting at 6pm tonight, November 16, 2015. Board meetings are held in the Ackerson Building at 410 City Road and are open to the public.

See our June article for more information on the deficit.

The audited 2014-15 budget deficit is $587,972. In June, the Board had projected that the deficit would be $502,237. The deficit in the budget has drained the “fund balance” down to $1,043,934 or 9.4% of the total budget.

The projected (budgeted) deficit for the 2015-2016 School Year is $482,415. If that deficit does not grow, the fund balance will be drained down to $561,519. That would leave the fund at 5.1% of the school budget.

Now that the state has enacted House Bill 4332, when our school fund balance hits 5% the state will assume increased oversight over the district.

Two committees have been formed. One to look at facility usage and the other to form a marketing plan. A facilities committee will consider ways to cut costs. The marketing committee will look at ways to increase enrollment, which, if successful, will increase revenue.

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by Fritz Swanson

Fritz Swanson has written for The Believer, the Christian Science Monitor, Print Magazine, McSweeney's, Esopus, LSA Magazine, and The Mid-American Review. He serves as a trustee on the Manchester District Library Board. He's the designer and publisher of The Manchester Mirror.

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