(Atlantic) The Atlantic School Board will be addressing the 2015 fiscal year budget at tonight’s school board meeting.
Gary Sinclair, Financial Support Co-Director for the Iowa Association of School Boards met with the school board last Saturday morning and explained that the district overspent their annual authority by 7.9 percent in fiscal year 2012 and 8.7 per cent in fiscal year 2013. Gary Sinclair presented a financial report to the Atlantic School Board during a budget work session Saturday morning. Sinclair explained what happened in FY2013 when the districts solvency ratio went from 8.6 percent to 0.1 percent.
“I don’t have the capacity to point fingers and to blame anybody, but part of my job is to challenge how did this happen, or where it came from,” stated Sinclair. “We identified a significant, almost unreasonable increase in Special Ed. cost in FY2012; in fact it went from a zero unspent balance to a negative $685,000 deficit in one year. So as I look at why that overspending in FY2012, that’s what I would attribute most of it to.”
Sinclair did say that this doesn’t put the school in a crisis.
Superintendent Dr. Michael Amstein said they have two main targets to look at; know where the board would like to be as far as the unspent balance and take a look at where a target area might be for a levy rate.
The Atlantic School Board will focus on those issues during budget discussions at their school board meeting tonight.
February 10, 2014