The Jackson County Board of Education ended its most recent fiscal year $908,600 in the red, and now has to create a plan for the state showing how it will eliminate the deficit.
The BOE approved a plan Monday at its meeting on the deficit, which hit the books June 30 at the end of the school system’s fiscal year.
State law requires that school systems that end the fiscal year with a deficit submit a deficit elimination plan to reduce its deficit by the equivalent of 1.5 tax mills.
For the Jackson County School System, that means outlining a four-year deficit elimination plan that will meet state law. By June 30, 2013, the district anticipates having a general fund reserve of $2.7 million.
Jeff Sanchez, assistant superintendent of finance and information services for the county school system, expects two key avenues to make that surplus a reality — decreasing expenses and increasing revenue.
There are no plans to increase the M&O (maintenance and operation) millage rate, which remains at 18.95 mills, he said.
The Jackson County BOE adopted a FY 2010 budget last month that featured a number of personnel expense cuts, including a hiring freeze for non-required positions, minimum wage for replacement classified employees (except bus drivers) and trimming days for paraprofessionals.