Livingston Schools Sink $1.56 Million Into Red
LIVINGSTON, La. — The Livingston Parish School Board expects to finish the 2007-08 fiscal year with a $1.56 million operating deficit, despite higher-than-anticipated revenues.
That projected deficit — the fiscal year does not end until June 30 — represents a nearly $2.7 million turn to the negative from what school officials had estimated in their original 2007-08 budget approved last summer.
Still, the one-year general fund deficit can more than be covered by $15.5 million in surpluses carried over from prior years. The deficit is still a projection with a few more months in the fiscal year left.
The original budget actually called for a $1.14 million, one-year surplus on $153.3 million dollars in general fund revenues.
While general fund revenues are expected to go up higher than budgeted, expenses are expected to go up even more.