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School board OKs budget with less red ink

School board OKs budget with less red ink

November 15th, 2011 in News

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."