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SR shows positive balance for 4 years

NORTH LIMA — The South Range school board approved a financial five-year forecast that shows a positive cash balance through the first four years.

The board this week approved a financial five-year forecast presented by school Treasurer Jim Phillips that shows a positive cash balance the first year of $3.7 million. It falls to just over $198,000 in the fourth before dropping to a deficit of $2.24 million in the final one.

The deficit spending is a little over $26,000 this year and grows to over $2.4 million in the final one.

Phillips noted the money generated from open enrollment could be affected by House Bill 110, which establishes guidelines for public school funding including the amount districts will receive per student. He said funding for open enrollment students could fall from the current $6,020 per student to approximately $2,100 per student.

Phillips said the forecast remains safe for the next two years, but could be affected in the next biennial budget.

In other business, the board rejected two bids for buses. One did not follow specifics and the other did not have removable seats as a handicap bus. The bid will be advertised again.

khowell@salemnews.net

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