HERNANDO, Miss. — Mississippi’s largest school district predicts a budget shortfall of about $11 million for the coming year. It will tap into financial reserves to cover the difference.
The Commercial Appeal reports (http://bit.ly/1U8CyKp ) the DeSoto County School District will have about $274 million of expenses but $263 million in revenue for the year starting July 1.
The shortfall comes despite cuts, including reductions in administrative salaries. Officials say no programs or teachers’ jobs are being eliminated.
Chief Financial Officer Stacey Graves says the district has about $70 million in reserves. She says it’s not unusual to pull money from reserves because some projects start one budget year and finish the next.
The DeSoto district has about 33,000 students in 42 schools.
Information from: The Commercial Appeal, http://www.commercialappeal.com