Schools want city to cover $250,000 shortfall, could require 2.5-cent tax increase
It’s a high-stakes battle between the city and the schools, with a potential loss of up to $1.87 million per month in state funding—and a possible shutdown of the school system on Oct. 1.
School officials said the Oak Ridge system has failed a state maintenance of effort test that requires local funding to remain at least the same from year to year. After some budget adjustments, there is a $250,000 shortfall, school officials said, and they want the city to cover it. It’s the equivalent of a 2.5-cent property tax rate increase.
“Unfortunately, we’re just in the position to ask the city to help us,” Oak Ridge Superintendent Bruce Borchers said Thursday. “They’re going to have to find that $250,000.” [Read more…]