EAST COUNTY — The Manatee County School District released Tuesday a schedule to repay money it took from individual schools’ internal accounts.
This spring, district leadership borrowed roughly $1.4 million from school savings accounts amidst a growing budget deficit.
Eligible district accounts to pay off the deficit included athletic-department funds, after-school program money, vending machine revenue, lost or damaged books money and revenue from school pictures and yearbooks.
Money parents contributed for specific items, including clubs, and funds acquired through fundraisers could not be touched.
The repayment plan released Tuesday pays back 33% of borrowed funds this year.
School principals already have access to those funds.
The district’s goal is to repay 100% of the funds by July 31, 2015.
Superintendent Rick Mills hopes to have the flexibility to do so, as he has promised to meet the state-required $10.3 million in reserves by next July.
Contact Josh Siegel at email@example.com.
Currently 0 Responses
Ashlynn Martin put her "paws" to action
Ashlynn Martin’s dance-a-thon fundraiser Sept. 7, at Jump Dance Co., benefitting Nate’s Honor Animal Rescue and its Lexi’s Paw Pals program, welcomed more than 60 participants.
Honor seeks home for Petey
A 1-year-old hound dog named Petey has been waiting to find a new home for more than 6 months at Nate’s Honor Animal Rescue.
Vitale accepts donation
Lakewood Ranch resident and ESPN Hall-of-Famer Dick Vitale on Sept. 9 received a $85,000 donation for the fight against cancer from Craig and JoEllen Mettille, of 380 Cos.