Although its year-to-date expenditures are almost $412,000 less than its revenues, the Commerce City School System will probably wind up the current school year with a deficit.
Superintendent of schools Joy Tolbert used last Thursday’s “work session” to point out that the system is making progress toward returning to black ink.
As of the end of March, Tolbert said, the system has a fund balance of $164,421, meaning it’s operating in the black by that much. It started the school year back on July 1, $247,000 in the hole.
“If we had started at zero, with all the cuts we’ve made, the difference is almost $412,000,” she told the board. “That’s where we would be if we had started at zero at the beginning of the year.”
It is discouraging, Tolbert admitted, to have three months remaining in the year with only $164,000 in reserves, but she pointed out that the system expects to get some $125,000 this year in additional state funds due to the mid-term adjustment.
“For us to end up with a positive fund balance will be very, very difficult,” she advised. “Not impossible, but very, very difficult. We have done a good job of saving, but when you start out with that kind of deficit, it will take some time to get that fund balance — and some more cuts.”
For the full story, see the April 16 issue of The Commerce News.