The Board of Education isn’t in as bad a financial situation this year as originally suspected.
At a meeting last month, School Business Administrator James Gaskins had predicted a budget deficit of about $142,000 for 2010 – 2011.
On Wednesday, Gaskins said the updated projection is only $5,000.
He said the Board of Education should be able to close that gap before the end of the fiscal year, on June 30, without asking the city for more money.
“It’s looking better than it did last month,” Gaskins told the board, as he presented an updated budget calculation for the remaining months of the fiscal year.
“The bottom line has changed significantly since last time,” Gaskins said, announcing the $5,000 figure. “We’re hoping this number will go down, not go up.”
The difference came from a combination of savings and adjusted spending projections.
For example, Gaskins said, substitute teaching costs were able to be offset partially by some grant money. The district is also expecting health insurance claims to go down toward the end of the year, based on past trends.
Also, the district’s insurance company has said it might be able to cover a portion of the costs for snow removal on school roofs this past winter.
The removal cost the district about $150,000 in unanticipated funds, according to Gaskins.
It was one of the main reasons the schools thought they would have a deficit this year, Gaskins said last week.
The other causes were cost overruns in transportation and tuition for special education.
While several departments — including maintenance, transportation and tuition — are still running over budget, the deficit is being closed in other places.
For example, the district placed a spending freeze on supplies. And it is deferring some costs until next year, Gaskins said.
Board of Education president John Lawlor said he’s happy to see the district likely won’t have to go before the city to ask for more money.
“That’s the last thing I want to happen,” Lawlor said. “I’d much rather take care of it ourselves than have to go back (to the tax board).”
