Anniston City Schools officials plan to rebuild the system’s reserve fund to state-mandated levels this year.
But interim Superintendent Joan Frazier called the margin “very tight” Thursday night, as system officials unveiled their fiscal 2008 budget at the first of two required budget public hearings.
With one month left to operate under the current budget, Tanya Holcombe, the school system’s chief financial officer, said she expects the system will have about $1.3 million in reserve by Sept. 30.
That’s about one month’s worth of operating expenses, as required by state law.
The 2008 budget projects a surplus of about $120,000. But Holcombe said the Alabama Department of Education will reset expectations for every system’s reserve account in November, and Anniston’s probably will go up.
To make sure the schools preserve their cushion, Frazier said, she will monitor the budget closely while she serves as schools chief.
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