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State Cut Means Over $900,000 Less For Knoxville Schools
Posted By News On October 9, 2009 @ 6:30 am In Today’s Local News | Comments Disabled
Iowa Governor Chet Culver ordered a 10-percent across-the-board cut in state spending Thursday, which translates into about $905,000 less in state funding for the Knoxville School District this year. Knoxville School Board secretary Craig Mobley says the district will likely use it’s around $183,000 in cash reserves and short-term borrowing through the Iowa School Cash Anticipation Program, or ISCAP as it adjusts to the largest across the board cut in recent history. However, Mobley says the district will have to find ways to raise revenues, which are primarily done through increasing enrollment, raising property taxes, or a combination of both. He says discussions on the across-the-board cut will take place at next Monday’s Knoxville School Board meeting.
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