District releases schedule to pay back schools

 

District releases schedule to pay back schools

 

Date: August 21, 2013
by: Josh Siegel | Staff Writer

 
 

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 jsiegel@yourobserver.com

 

 

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