News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Cumberland County School Board approved its 20-21 fiscal year budget Thursday night, but the work may not be over.
“We have no idea what’s coming from the state, what’s coming from the commission,” Board Chair Teresa Boston said. “We do understand that in the month of June and July there may be some changes and we may be coming back to the drawing board.”
The board did receive some positive budget news at its Thursday night meeting.
“The eight percent medical insurance increase we had budgeted for, the state announced this week that it’s only going to be two percent,” Chief Financial Officer Kacee Harris said. “That created just shy of $250,000 in savings.”
The savings brings the school system’s revenue shortfall down to $3.265 million. The system has more than $5.8 million in its fund balance to deal with the shortfall.
Harris projected the fund balance would stand at $2.5 million at the conclusion of next fiscal year.
The school budget will be presented to Cumberland County Commissioners next week.
