From the Evansville Courier Press:
A reserve fund will enable the Evansville Vanderburgh School Corp. to meet its budget for the rest of the fiscal year, the School Board was told Monday.
Superintendent David Smith said the EVSC has long anticipated having to make such a transfer from its rainy day fund, which currently has about $8 million.
Financial data given to the board Monday showed a $3 million general fund deficit; Smith said funds from the rainy day account will be moved before the June 30 end of the fiscal year.
"It's certainly a cash flow issue, not only for us but for all school corporations," Smith said. "We have not made any transfers or paid any expenses out of the rainy day fund, but we'll do that to make it work."
The EVSC's general fund for 2012 is about $153 million, about $5 million less than it was in 2009.
The district has lost funding because of property tax caps and a statewide cut in K-12 funding in 2010.
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http://www.courierpress.com/news/2012/may/21/no-headline---ev_schoolboard/
