The Barrow County Board of Education is projecting a budget shortfall of $2.4 million for fiscal year 2009 and is planning to tap its reserve funds to make up the difference.
Assistant superintendant of business services Ken Cato presented preliminary budget figures to the BOE Tuesday. Cato said despite the projected deficit, the school system would remain in the black by tapping into its reserves of $7 million. The school’s fiscal year begins July 1. The system’s tax rate won’t be set until later this year.
Driving the projected shortfall for FY09 is that the school system’s expenses are rising faster than its income.