My “NO” vote for the referendum was NOT to close two schools. My “NO” vote was AGAINST the $9,000,000 referendum that asked for an extreme amount of money to keep these schools open. Let us not forget the $1,200,000 from a recurring referendum in recent years that has no sunset.
This is information provided by the River Valley Schools administration and school board.* The district is carrying forward a projected $295,859 deficit for FY 2016. The years for which the district is asking for a $9,000,000 referendum (**FY 2017 – FY 2021), the projected net deficit is only $12,120.
- FY 2016 ($295,859) deficit
- FY 2017 ($25,065) deficit
- FY 2018 $31,262 SURPLUS
- FY 2019 $ 6,024 SURPLUS
- FY 2020 ($16,621) deficit
- FY 2021 ($ 7,709) deficit
The effect of this is a net deficit for FY 2021 of $307,979 taking into account the FY 2016 deficit and the proposed budgets through FY 2021. The Fund Balance can effectively cover that net deficit, and we would still have a healthy fund balance. At this rate, we could operate for many more years before depleting the fund balance below a healthy level, giving time to explore and initiate program adjustments that will best benefit students in the entire River Valley School District.
*Calculations from Forecast5 Analytics – River Valley School District – Fund 10 General Fund – Projection Summary – Revenue & Expenditure Projection for FY2017 – FY 2021 and Budget year 2016.
** FY is Fiscal Year