Learning To Be Our Best
Utility links
News Item

Board Makes Draw on Emergency Contingency Reserve to Cover COVID Costs

April 14, 2021

The board has had to draw $535,000 from the district's emergency contingency reserve to cover COVID related costs in excess of the district's operating budget.

Through the COVID pandemic, district revenues have reduced by $500,000 and costs have increased by $170,000, increasing the district's expected deficit from $830,000 to $1.5 million. The district will receive $135,000 in additional funding from the federal Safe Return to Class fund leaving $535,000 that needed to be covered.

The emergency contingency was established by the board in 2011 to serve as a safety net for unexpected, infrequent financial challenges to the school district. The contingency is limited to two percent of the prior year's revenues and any use of the contingency is to be replaced through the year end accumulated surplus if there is one.