POSTED: Thursday, August 30, 2012 - 8:37pm
UPDATED: Thursday, August 30, 2012 - 8:44pm
Longview, TX — The Longview ISD school board on Wednesday adopted a budget that was $1.6 million shy of being balanced but maintained a stable tax rate.
“I asked the board to adopt a very conservative budget,” said Lynn Marshall, assistant superintendent of finance. “It is my hope that when the books close on Aug. 31, 2013, that we will not be $1.6 million short.”
The district’s general operating budget shows revenues of $60,331,662 and expenditures of $62,010,247.
The district’s 2011 budget had a deficit of about $967,000; however, Marshall said when the fiscal year ends Friday, the school district will actually finish the year in the black.
If Longview ISD’s student enrollment increases in 2012-13, it will mean more revenue for the district, and Marshall said he is also hopeful that not all money budgeted will be spent. Should the district need to pull money from its fund balance, Longview ISD has a little more than $38 million in savings, Marshall said.
To read more visit the Longview News-Journal.