Richfield School Board continued to try to balance the books in the face of financial difficulties at its regular meeting Monday night as it adopted a revised budget, which may reduce the number of teaching positions the board already agreed to eliminate for the 2011-12 school year.
The new budget revisions resulted in a projected general fund balance $2,293, 793, or 5 percent of expenditures, at the end of the 2012 year.
Jason Mutzenberger, district supervisor of financial service for Richfield Public Schools, said the 5 percent is up from .
"Most revenue adjustments are due to state recalculations based on updated enrollment numbers and revised budget assumptions," said Mutzenberger in a prepared statement presented to the school board. "These changes have generated positive increases of $588,000 in the property tax levy and general education aid, along with $391,000 in basic skills [compensatory] aid."
In the case of Richfield, he said the adjustment is mainly due to funds coming into the district from the Federal Education Jobs Fund, which will be available for two years. In addition, the district increased in enrollment by 132 students, which generated additional education aid. He said the increase has already prevented the district from having to make further cuts in teaching staff and will probably lead to the .
The next school board meeting is at 7 p.m. April 4 at the Richfield Public Schools District Offices.