Saturday, October 17, 2009
Stumbo Says State May Need School Funds
A preliminary state revenue forecast this week predicting a $160 million shortfall for the current fiscal year, which ends June 30th., has the outlook deeming a worse situation for the 2010-2012 state budget and has sent lawmakers searching for a solution. House Speaker Greg Stumbo says one consideration is to dip into local school districts' contingency funds, but school officials say they're not warming up to that idea, while saying they need those funds to balance their own budgets during tight economic times. According to state officials, the school funds contain hundreds of millions of dollars, and Stumbo says they may have to ask to use some of it, but school officials say they would strongly oppose the move.
# posted by Homer Owens @ 2:37 PM 
