Ferguson-Florissant Board Approves 2012-2013 Budget
The administration explains a $1.5 million shortage for the coming year.
The Ferguson-Florissant School District Board of Education approved a $138 million budget for the 2012-2013 school year, but it didn’t come without a share of bad news.
Mick Willis, assistant superintendent for finance and chief financial officer, explained to the board that the district would have a $1.5 million drop in revenue. The shortage would be taken from the reserves to make up the difference.
Willis said that state aid that was anticipated to help the district’s revenue didn’t occur, which led to an unbalanced budget.
He also explained that the revenue and spending saw an increase compared to the previous school year, and the difference results from the bonds that were sold earlier this year.
Willis assured the board that work on the 2013-2014 budget starts once students return in the fall.
“This time next year, we will present a balanced budget,” he said. He added that there will be a great deal of discussion and review of major structures of the budget to make it balance for the next year.