LAUREL, Del. (AP) - A special team of financial advisers chosen by Delaware state officials is helping the Laurel School District ward off a projected spending gap.
The News Journal of Wilmington, Del., (http://tinyurl.com/8xgyshc ) reports that Laurel's operating funds are projected to fall nearly $106,000 short of the district's budgeted expenditures on June 30. Education Secretary Lillian Lowery requested the team of advisers under a special provision that allows the state to intervene when school districts or charters are in "financial distress."
With Lowery's approval, the team has the authority to examine the district's finances and make financial policy changes without consent from the district's superintendent or school board. It can also pre-approve any expenditure of district funds.
State lawmakers say the district's sagging tax revenues are to blame for the budget shortfall.
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