TAKE A LOOK AT SCHOOL FINANCES

The Cape Girardeau Board of Education will take a close look at finances Monday night at a special study session. The 6 p.m. meeting in Room 214 of the Cape Girardeau Vo-Tech School is open to the public.

Superintendent Dan Tallent and Business Manager Steve DelVecchio will outline anticipated revenue shortfalls in the budget to the tune of $323,297 in the current year.

Much of the deficit comes from lowered interest rates, overbudgeting the collection rate of local taxes and reduced financial institution taxes. The shortfall wouldn't be a great concern if the school district had not already budgeted to deficit-spend $550,000 this year. This means reserves will be depleted by more than $870,000 by the end of this budget year.

Even with the deficit, the district should end the year with balances equal to about 1.8 months of expenditures. But some experts feel that cushion of reserves should be much higher.

Now is the time for the taxpayers to acquaint itself with the district's finances so they may better understand some tough choices the board may have to make to balance the budget next year.