FlintTalk.com Forum Index > Political Talk Topic: Flint Board of Education and Budget

Author    Post   00SL2 F L I N T O I D There's talk of closing Wilkins Elementary and cutting 100 teachers to help trim a projected $13 million deficit for the 2007-08 school year, and June 30 the Board must have adopted budget. "The district has shaved about $100,000 off its budget this year, leaving its deficit just shy of $5 million . . . . The district plans to use about $5 million of its more than $18 million rainy-day fund to make up that shortfall." ~~ Source: Flint Journal, April 5, 2007. Can someone please explain what a "rainy-day fund" is, in the Flint School District's dictionary? Is there a requirement to maintain the fund at a certain level, and is there a rule for its use? Thu Apr 05, 2007 11:17 pm  rapunzel Guest Hmm.. no talk of shaving benefits to exempt administrators?Or even the plethora of new admin positions at bulding level. Many chiefs no indians? Coaches at higher than teacher cost and doing what para-pros at less than teacher cost used to do? not all but most. Title I funds at building level not helping where laws say they should? Past tells us closing elementary schools loses money in student count. We need to close a secondary school but need accurate pupil personnel accounting. In the past "rainy day fund was used for emergency maintainence". Like fixing the pool at DTM for the handicap physical therapy. (please know Mott Foundation contributes much to this program). Longfellow had a watermain break that cost $100,000s. Unexpected costs to many old buildings. If we fixed all that currently needs fixing we would no longer have any rainy day fund. Sat Apr 07, 2007 12:46 am  Ryan Eashoo F L I N T O I D Everyone needs to take a hit. I have always wondered where all this money goes?? _________________ Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com Wed Apr 11, 2007 8:00 pm  jackson F L I N T O I D Typically, the "rainy day" fund is the "extra" money left over at the end of the year to use for emergencies -- and -- very importantly -- for start-up costs in a new school year before the state-aid checks start flowing into the local school districts. Typically, the ideal is to have a MINIMUM of 5% of budget left over at the end of the year. It is preferable to have 7-10% -- and, with state finances as they are, it may be a good idea to have more than 10% in the rainy day fund ---- at the end of each budget year. Some of it may be used to front expenses during the year, but the key is to have a "fund balance" or "rainy day fund" at the END of the fiscal year. Wed Apr 11, 2007 9:23 pm  CrossSchoolBoard F L I N T O I D Jackson, This is the kind of financial and logistical info I'm anxious to absorb. Feel free to email me any of this "inside baseball." Thanks, MDC Fri Apr 20, 2007 6:46 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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