East Allen County Schools staring at $10 million shortfall for 2010

Kelly Soderlund, The Journal Gazette

ksoderlund@jg.net

NEW HAVEN - East Allen County Schools' 2010 budget has a projected deficit of more than $10 million, and the chief financial officer recommended the board develop a plan to address it within the next couple of months.

Chief Financial Officer Kirby Stahly told the board Tuesday night that several factors contributed to the deficit: decreased interest revenue; a state allocation that does not keep up with rising salaries, rising insurance and utility costs; and a reconfiguration of the way property taxes are collected that leaves less money for schools.