Thursday, 26 February 2015
State DPI warns school districts about likely shortfall.
After spending last week with representatives from school districts across the state, Macon County School's finance director Angie Cook, had disappointing numbers to report to the board of education.
Cook told the board that the state Department of Public Instruction (DPI) informed local districts that by the school year's end, the state as a whole is facing a $271 million shortfall for the state's $21 billion budget.
North Carolina state economist Barry Boardman and Nathan Knuffman of the fiscal research division in the Office of State Budget and Management released a statement on the shortfall last week, citing a decrease in tax collection revenues as the cause. The state economists are predicting the gap between actual and expected tax collections to be 1.3 percent of the anticipated revenues.