VIDEO: Christina approves budget, must tap reserves
The spending plan for the upcoming fiscal year gets approval from the Christina School Board.
WDEL's Jim Hilgen has more.
By a 5-2 vote the board approved a $230 million budget for the 2014 fiscal year.
District CFO Bob Silber says the new budget is basically the same as the current spending plan.
"There are no new, added expenditures out of state or local receipts that are scheduled for this year. It's really business as usual. Expenditures grow as a result of inflation, salary increases, et cetera," Silber says.
He says that even with no significant changes, the district will need to tap its reserves to the tune of $1.5 million.
He says even with no real additions to the district's expenditures, a dangerous trend may be emerging.
"We are, for the first year, going to have a deficit, So we will have approximately $1.5 million more in expenses than receipts coming in," says Silber
Silber says the looming problems include more money going out to charter and choice schools while the district's student population and tax base remain static.
He says without more revenue there is little the district can do to balance its budget without affecting the quality of the education it delivers.
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