Unexpected special education debt puts Litchfield School District in statutory operating debt
Litchfield School District Superintendent Bill Wold said Friday the School Board will make over $200,000 in budget cuts Monday as the first phase of the district's plan to get out of statutory operating debt.
By state definition, a school district is in statutory operating debt when it is holding a -2.5 percent undesignated fund balance in its general fund.
According to Wold, the district's fund balance is at -4.7 percent.
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