The Rockford Public Schools reported on Tuesday 11/25/2014 that the District’s 2014 audit will show a deficit of $8.8 million. The majority of the items contributing to the deficit were expenditures which were not reflected in the adopted budget.
These expenditures included $1.7 million for salaries for 52 hourly FTE’s which the district did not include in the budget. $3.7 million for supplies and equipment. $1.6 million for residential tuition for special needs students. Additionally, the initial interest payment on the District’s 2013 debt issue was not included in the approved budget.
The District stated that the deficit was less than a 3% variance from the adopted budget.
