The Newport Independent School District board has taken temporary measures to address a $1.9 million budget deficit for the 2025 fiscal year. During a special meeting, the board decided to transfer $1 million from their investment account to the general fund to help cover the deficit, while also moving funds from other expected expenses. Although these actions will not affect current teachers, they reduce the district’s emergency backup funds, raising concerns about future financial stability. The board’s solution is seen as a short-term fix, as they may face a significantly lower budget next fiscal year, potentially starting with only $425,000 if no revenue is generated. The proposed budget must be approved by the Kentucky Department of Education before the district can plan further. Board members expressed concerns about the necessity of making deeper cuts in the future due to ongoing financial strains.
Newport Independent School District Votes to Balance 2025 Budget Deficit, but Future Budget Concerns Remain
Updated on October 17, 2024