School board OKs budget with less red ink
Tuesday, November 15, 2011
Jefferson City’s Board of Education voted Monday night to reduce the amount of deficit-spending planned in this year’s budget.
“When we presented the budget, back in June, we were projecting a $719,000 deficit,” Chief Financial Officer Jason Hoffman reported. “The proposed budget changes have reduced the deficit down to $600,000 this year.”
And the district still has a reserve fund of nearly 27 percent, he said.
Hoffman said the adjustments happened for several reasons.
One was an increase in the County Stock Insurance, a tax on insurance companies that are based in the district.
“It’s very unpredictable,” Hoffman reminded the board. “In the last five years, we’ve gotten as little as $1.1 million in this area.
“We got a little over $2 million last year, and we got a little over $2.5 million this year.”
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