Thursday, January 22, 2009

Local revenue another reason for funding concern

There have been multiple reports on possible cuts to state funding for Kentucky schools, along with proposals to shelter SEEK funding by cutting elsewhere and raising new revenue. Kentucky districts rely on local taxes for a growing portion of their total funds, and the ongoing recession is likely to take a bite of the local share as well.

Fayette County is discussing a $3.2 million potential shortfall in this year's funding, including declines in motor vehicle taxes, occupational taxes, and earnings on district investments. The Herald-Leader shared details last week.

In the coming weeks, many other districts may be reporting related difficulties. Some will have reserves that let them ride out the storm. Some will not, and for schools and students in those districts, the impact of any local decline will be especially painful.

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