The projected fund balance of the Santa Rosa County School District is perilously close to causing the state to come in and manage the district’s finances.
Superintendent Tim Wyrosdick said that a decrease in revenue has resulted in a decreased fund balance and cuts have been implemented to avoid a financial state take over.
“When our fund balance drops below 3 percent, we’re given notice by the state. If it falls below 2 percent, then we have intervention from the state and they come in and start controlling the finances,” explained Wyrosdick. “Our effort is to make certain we keep it about 3 percent.”
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