The finance committee of the Corry Area School District approved the 2009-10 spending plan in June, and the committee is all ready to start work on the 2010-11 budget.
Mike Andrus, the district’s business manager, told members of the finance committee during a meeting Monday that in September the committee will start to review all the district programs in preparation for next year’s budget.
The irony is that, when the finance committee begins working on the district’s 2010-11 budget on Sept. 28, the state may not have passed its 2009-10 budget.
The Corry Area School Board in June approved its 2009-10 budget with expenditures of $32.1 million. The 25.5 mill spending plan included a 1-mill reduction from the previous year’s budget.
The budget was passed without federal and state grant amounts the district receives each year included, as well as $1.8 million in stimulus funds the district expects to receive.
Andrus told the finance committee that the district had not received any stimulus money as of Monday.
But, Andrus said, unlike other districts that may be forced to apply for a tax anticipation note until state money is received, the Corry Area School District should be able to pay its bills for a few months.
“With our fund balance and our cash flow, we should weather this without too much trouble,” Andrus said. “We monitor our cash flow and will until the (state) budget is passed.”
Andrus said if the Corry school district is forced to apply for a loan within a few months, it could be a problem as far as available lending funds.