VIRGINIA BEACH
Spend some and save most. The School Board unanimously passed a plan Tuesday to set aside 75 percent of $33.1 million that was left over from the 2007-08 budget.
The remaining $8.3 million is to be spent on school buses, computers, school maintenance, supplies, tutoring and teacher training.
The money, also known as reversion funds, is the result of conservative budgeting, cost trimming and unexpected government dollars.
"We want to be in the same position next year," said Board Member Carolyn Weems.
Nearly $25 million of the funds will be set aside as a hedge for budget shortfalls. The City Council will have to approve establishing a school division reserve fund.
Division officials contend that the move is fiscally prudent because contributions from the city are expected to fall about $5 million short this year, and state dollars could be cut as well.
Although Gov. Timothy M. Kaine said two weeks ago that state budget cuts are unlikely to hit schools this year, the chief financial officer for Beach schools said it's best to be cautious.
"Until we know what the deal is, I don't think we have any choice," Farrell Hanzaker said.
When the School Board begins work on a budget for the 2009-10 school year in the spring, much of the $25 million is likely to remain. That will leave several options, Hanzaker said. The school division could set aside money to guard against any shortfalls the following year, spend the money on building projects, bus replacements and other priorities, or it could use the money as a stop-gap for ongoing expenditures.
The final option might be "a bit risky," but could be worth considering if a financial recovery appears to be on the horizon, he said.
Lauren Roth, (757) 222-5133 or lauren.roth@pilotonline.com.
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why are my comments waiting approval for 3 days
guess the pilot beleives in cencorship of ideas that dont conform to their commie pinko agenda. anyway, this money belongs to the overtaxed citizens of virginia beach and should be returned to them at once.
Save Training Money
For the most part, The Virginia Beach School Board did the right thing, however, no additional money needs to be spent for teacher training. If the public knew how the current training is implemented and what much of it consisted of they would be appalled. The current number of training hours is the highest it has ever been in the history of Virginia Beach. Teachers spend in inordinate amount of time in in-service meetings and not preparing lessons that the public expects. On a typical in-service day, over 50% of the time will be spent on limited value meetings. In this regard the system is broken.
I Wish the Federal Government
Was as fiscally reponsible as our School Board.
Very well done, Virginia Beach.
Hiring?
So maybe those laid off from Portsmouth can get jobs in Va Beach since they have so much surplus money now!