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School finances dont add up
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SOUTH WAYNE—A small crowd quizzed the Black Hawk School Board and administration on the 2011-12 final budget number discrepancies.
At a special meeting on June 28 it was determined that there was a significant difference between the budget and the actual fund balance.
The district lost approximately $317,000 in state aid and pulled $114,000 from the fund balance, which would have accounted for the budget deficit that was projected.
District administrator Willie Chambers said there was a $200,000 increase in revenues, most of which aren’t likely to happen again, like a Microsoft settlement for $50,000. Chambers also said there was a $118,000 difference between the projected and actual expenditures.
“I understand where the questions are coming from,” Chambers said.
Chambers took full responsibility for the confusion. He said the money was just realized in the last week and he is still trying to figure out where the differences came from. Chambers said he is actively trying to learn about the budget process to prevent confusion in the future.
A finance committee meeting will meet in the near future to review the 2011-12 budget and determine where the differences are.