Sunday, June 24, 2012

Chino Valley school district fears $16.9 million debt

CHINO - Chino Valley Unified School District officials fret they will be staring at a debt of $16.9 million in three years if Gov. Jerry's Brown's tax-hike initiative doesn't pass in November.

School districts officials expressed their concerns at a Thursday night budget study session that addressed budget projections through the 2014-15 school year.

Chino Valley Unified officials have already cut $20 million out of the district's 2012-13 and 2013-14 school year budgets.

A lot rides on the tax initiative that will be on the November ballot, school officials said.

"If the initiative passes, then we don't get cut, but at the same time, we don't get any more money," Chino Valley Unified spokeswoman Julie Gobin said.

Brown's initiative would raise state sales tax as well as income taxes on California's highest money-makers. If it fails, the district could be dealing with ongoing cuts, a loss of state revenue and a reduction to the school year.

"We're hoping for the tax initiative to pass to remain constant, not even to get more money," Superintendent Wayne Joseph said.

The school district's budget is set for $215.7 million in 2012-13, $210.8 million in 2013-14 and 211.76 million in 2014-15.

Revenue declines are expected to result in an ending balance for the 2014-15 school of $16.9 million in the red if the tax initiative doesn't pass.

The district's multi-year budget must be adopted and sent to the San

Bernardino County Superintendent of Schools Office by July 1.

Board members are expected to approve the budget at their next meeting on June 28.

A budget with a third-year deficit requires the board to adopt a resolution identifying ongoing reductions and when they will be implemented.

The Superintendent of Schools Office will notify the district by Aug. 15 of whether its budget has been approved, conditionally approved or disapproved, said Sandra Chen, district assistant superintendent of business services.

Earlier this week, Chino Valley Unified and its teachers union, Associated Chino Teachers, reached a tentative agreement that could help the district's finances.

The agreement would reduce the district's next school year by five-and-a-half-days and increases class sizes, but allows for 15 school nurses, 22 high school counselors, four elementary music teachers and some adult school teachers to return to the classroom after receiving pink slips.

The agreement needs to be voted on by Associated Chino Teacher union members.

Even with the tentative agreement, the district had to reduce staffing and eliminate many programs.


Reach Canan via email, call her at 909-987-6397 ext. 425, or find her on Twitter @ChinoValleyNow.

thursday night football johnny jolly johnny jolly demi moore and ashton kutcher demi moore and ashton kutcher jerry sandusky interview white house shooting

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.