Duluth School Board approves basic budget
The Duluth School Board unanimously approved a general fund budget today.
The 2018-2019 initial budget deficit is more than $1.6 million with $2.5 million in new investments, bringing the total shortfall to $4.1 million. The board approved a budget with general fund revenues and expenditures that align with the preliminary budget the board approved in March, which had about $3.9 million in cuts.
State law requires school districts approve a final fiscal year budget prior to July 1. The law does not require a full detailed budget to be approved, just general fund revenue and expenditure amounts.
The budget shows a projected fund balance of $232,923 for the 2018-2019 budget with a unrestricted fund balance of $164,278. Board members are expected to have a full detailed budget brought to them sometime in July after an outside financial firm, Arrowhead Regional Computing Consortium, has a chance to review it.
An outside firm was hired after chief financial officer Doug Hasler was put on paid administrative leave June 18.