Note: This story was updated at 11:35 a.m.
It might be difficult to understand the concerns about Oak Ridge Schools’ funding and the state maintenance of effort test without seeing the local revenue numbers.
So, Oak Ridge Today has posted a copy of a maintenance of effort spreadsheet provided by Karen Gagliano, Oak Ridge Schools business and support services director. This spreadsheet includes budget adjustments that helped reduce the local revenue shortfall from the original $393,000 to a smaller $250,000.
Oak Ridge education officials have asked the city to cover that smaller shortfall to avoid a loss in state funding of $1.87 million per month and avert a school shutdown on Oct. 1. It’s the equivalent of a 2.5-cent property tax rate increase, although it’s too late for a tax increase this year. [Read more…]