Local schools may be affected by a shortfall in state funding related to the COVID-19 pandemic.
At the May Lebanon R-3 School Board meeting, Chief Financial Officer Adam Dameron provided an update on the current fiscal year's finances, as well as development of the 2020-21 budget.
The District received notice of state funding reductions of more than $400,000 for the current fiscal year, ending June 30, according to a school press release. Fortunately, the District is receiving more funding for "average daily attendance" (ADA) than budgeted for, which alleviates these funding cuts.
However, in a conference call with school administrators on March 20, Governor Mike Parson provided a sobering outlook for the current year budget and cautioned school officials about the 2020-21 budget year, according to the school district. He said schools needed to brace for a "year or two" of recovery. A second call from the Governor was scheduled for June 2 and he was expected to discuss further revenue reductions. Parson has said there is currently a $500-700 million budget shortage in this year's state budget and as a result, all school districts will experience further cuts.
Dameron told the board this creates uncertainty for the District's 2020-21 budget as it suggests state funding will be down significantly. The District expects to plan even more conservatively as a result, the press release said.
District leadership will continue to make the goals communicated in Proposition Lebanon Schools a priority.
