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|Knoxville School Board Approves District Budget
|At first glance, the Knoxville School District budget for the current school year looks like it has a huge deficit, but the district's superintendent says that's not really the case, though it is by design.
The District-202 School Board Wednesday night approved the total Fiscal Year 2010 budget totaling $11.3 million. Of that, Superintendent Larry Carlton says, the largest fund, the education fund has a nearly $800,000 deficit.
Carlton says there really is only one reason for the deficit: the ongoing expansion of Mable Woolsey Elementary School.
"What makes up that deficit is $685,000 that I put aside for the building," Carlton said. "I put aside $140,000 for the payment (of debt certificates for bonds issues for the project). That makes up the majority of it."
That remaining $500,000, Carlton says, is coming from the district's reserve funds, while the rest is the first set of payments on the remaining $1.2 million of bonds that were issued.
He says another part of that deficit is coming from a teacher who wants to take the district's early retirement option at the end of this school year.
Carlton says for one year only, he's also moving some custodial and other expenses to the education fund from operations and maintenance to, he says, put some relief on that fund.
In a related matter, Carlton told the District-202 board the district has received $127,000 in economic stimulus dollars distributed through the Knox-Warren Special Education District, that will be used to purchase several sets of laptop computers, books, and professional development items.
|09 17 09 by Newsroom
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