OVSD FINANCES At the meeting of the OVSD Board of Trustees last evening, the Orange County Department of Education Superintendent of Business Services and its General Counsel made a presentation regarding the OVSD’s 2014-15 adopted Budget. They analyzed that since July 1, 2014 the District has entered into $2.1M in additional salaries and benefits expenses, approved $9.2M in new expenditures (in addition to $3.0M already expended), and has spent $2.9M of its $4.3M Emergency Reserve. This now results in the District being in the RED $7,815,600 in its General Fund. (See, ovsd.org/files/_7KCjW_/83476ee0d9a99f1a3745a49013852ec4/OceanView_12_9_2014.pdf) As a result of this “fiscal crises” (quoting the District’s new Board President), a hastily called Special Board meeting is set for tomorrow evening (Thursday, December 11th) at 5:00 pm at the District Board room (17200 Pinehurst Lane), to further discuss ways to try to address this financial crises, and explore options for perhaps delaying or cancelling portions or all of the District’s current construction plans. (See, oceanview.csbaagendaonline.net/cgi-bin/WebObjects/oceanview-eAgenda.woa/wa/displayMeeting?meetingID=1289 ) You may want to attend . . .
Posted on: Thu, 11 Dec 2014 06:23:17 +0000
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