Schools Ending Year With $300,000 Shortfall
• Auditors Say Corrective Options Are Available
Dec 26, 2011 – The Nutley School system faces a $300,000 financial gap going into the new year of 2012, according to audited accounts being analyzed at year's end.
The shortage likely can be covered by surplus monies in other accounts including some funds left over from the last voter-approved referendum that financed major improvements at the Spring Garden and Walker Schools.
Board President James Kuchta said the board isn't in any immediate financial emergency but said problems could develop should costs escalate in the special education area.
"Some per-student costs in special education can run as much as $100,000 a year," Kuchta said.
The board met with its auditors two weeks ago to reviewed several options available to close the budget shortfall.
"Our most pressing challenge right now is determining ow best to fill this $300,000 bap," Trustee Steven Rogers said.
