Organizational Meeting

The organizational meeting was held on January 5, 2008. Here are the minutes of the meeting.

The school board heard the report on the audit of the fiscal affairs of the school district for the year ending June 30, 2008. At this point in time the school district is financially sound with an unreserved General Fund fund balance of $3,614,775. A portion of this amount is available to carry the district through the difficult budget times that the district will face in the near future. A good portion of the fund balance needs to be retained for cash flow purposes (and to avoid short term borrowing), to meet health insurance obligations and emergency type expenditures.

Budget projections for next year, FY10, indicate that unless spending reductions are made, the district will have a deficit in the area of $900,000. The board's finance committee will be meeting beginning this week to determine how to meet the financial challenges of the next several years.

Stay tuned here for updates as they become known.