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As mentioned in a previous post, the Lauderdale County Board of Education reported a $619,000 decline in its fund balance in 2018. The Board’s 2019 Budget projects another decline of more than $835,000. Unfortunately this projection of increasing losses may itself be overly optimistic.
Using the Board’s reported expenditures for the first four months of the 2019 Fiscal Year as a basis for projection, the Board’s total expenditures for the year will outstrip projected revenues by $3,500,000 if the current monthly rate of spending continues. If this projection is realized, the decline in fund balance for the year will be over four times greater than expected.
At that rate the Board’s fund balance will be zero in less than three years. Bottom line? If the Board continues on its current trajectory, the school system will not only have to borrow to build a new vocational school, but it may also have to borrow simply to meet payroll.
Humbly submitted for your consideration by,
Well, the VOTERS in Lauderdale county either didn't know or didn't care about the way money was being spent by the BOE at election time, maybe NOW that it is hitting you in the face you will become interested.....if so, here are meetings that are scheduled.....worth attending if for nothing but to see both sides of a mouth speak....https://www.facebook.com/lLaudCoSS/photos/a.156979844484365/1063054383876902/?type=3&theater
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