State Budget Cuts
The State of Oklahoma declared a second General Revenue failure for the current fiscal year. The total shortfall for Oklahoma school districts has now increased to $109.1 million for the current year.
This latest shortfall has resulted in a second round of budget cuts for the current school year. Our state aid allocation has been reduced by an additional $185,869, and our Flexible Benefit Allowance (employee health insurance) has been reduced by $64,504. This, along with the cuts we sustained in January, brings the total budget loss to over $370,000 for this school year.
Unfortunately, with Oklahoma facing such a large revenue deficit, we are all but guaranteed additional cuts in our 2016-2017 funding. It is also very possible that we will receive additional cuts before the end of the current school year. Although our district is financially stable, we cannot continue to endure these cuts without looking at possible future spending reductions.
As a district, we will continue to manage our budget in a manner that will protect the programs and services we provide for our students. Situations such as the budget cuts, as well as the expenses associated with a growing district, are why our district attempts to maintain an adequate amount of carryover funding each year. However, even with our fund balance, these continuous cuts will result in difficult financial decisions having to be made in the future. Please be assured each of these decisions will be made while keeping the needs of our students a priority.
If you have any questions about this, or anything else, please do not hesitate to let me know.
Dr. James White