With its June deadline looming, the Barrow County Board of Education continued working this week on what looks to be a very difficult FY2012 budget.
The board will meet again on May 31 to make further adjustments in the proposed budget. The BOE is scheduled vote on a preliminary budget June 7. The new fiscal year begins July 1.
Current projects for FY2012 indicate the system will see revenues drop next year by $3.6 million, mostly through lower property taxes due to a declining tax digest. The system also won’t have federal stimulus money next year.
On the expense side, the system expects costs to go up $2.02 million, mostly from higher instruction payroll costs.
The net effect is that without some major changes — further cost reductions or higher taxes — the system will be in the red by around $7 million next year.
Earlier, the BOE approved six furlough days next year. When the board meets May 31, the impact of that and other alternatives will be discussed.
For the full story see the May 18 issue of the Barrow Journal.