[C-L]JPS must make a decision regarding how to pay for additional expenses for the 2006-07 year
Along with figuring out how to pay for additional expenses from the prior school year, JPS must also decide how to cut down the 2007-08 budget by around $2.2 million before the final budget is approved. JPS executive director of finance Sharolyn Miller says the rise in costs is coming from benefits and mandated salary increases.
Jackson Public Schools is expected to tap its $18 million of reserves in coming weeks to the tune of more than $3.7 million to pay for additional expenses during the 2006-07 school year.
Within the same time, the board also has to figure out how to trim 2007-08 budget requests by about $2.2 million before it finalizes the new budget.
The board has two options: Cut the money to meet the district’s $220 million revenue stream or plan on using some of the district’s reserves before the end of the next fiscal year.
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