Cobb County School Board Approves 2013 Budget
Earlier today the Cobb County School Board approved a budget for the upcoming fiscal year.
The district will cut more than 300 teaching jobs.
The board approved the budget by a 4 to 3 vote. Cobb County superintendent Dr. Michael Hinojosa called the components of the budget tough but necessary.
“None of us look forward to furlough days, especially since it’s on the back of our classroom employees,” said Hinojosa.
The $841 million dollar budget includes 3 furlough days for all employees and reduces the 180-day school year by 3 days.
Dr. Hinojosa painted a bleak scenario as to the importance of the 2013 budget.
“One of the major concerns that we had with this budget was the issue of draining our reserve so much that we would be in danger of possibly borrowing money to make payroll.”
That would mean opting for a tax anticipation note in which the district would pay back the money based on future tax revenue.
Hinojosa went on to say it’s not likely the district will have to borrow the money.
The board did authorize the use of $28 million in reserve funds to help offset the deficit which exceeds $60 million dollars.
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