Thursday, April 9, 1998 | 10:58 a.m.
Even with a dreaded tax override ballot issue, layoffs and postponement of travel, textbook purchases and junior high sports, the district is in the red.
"We are still $160,000 short of balancing next year's expenditures with next year's revenues. These recommendations by no means wipe out the deficit," Superintendent Neil Stevens said at Tuesday night's board meeting.
To avoid $900,000 in annual bond payments the next two years on what remains of the original $4 million debt for the Crescent Valley Elementary School, Stevens suggested a November ballot question asking for a tax override of 15 cents per $100 of valuation to retire the debt.
The district plans to put another $500,000 into a revenue stabilization fund, bringing it up to $1 million, a step Stevens said would give the district a cushion to avoid any midyear layoffs in 1998-99.
"In the last 15 months, we lost $2 million in our budget that we thought we were going to have," Stevens said. "It'd be nice if we won the Megabucks."
archive
