Albemarle school division predicts funding shortfall
The Albemarle County school division is predicting funding gaps for the next five years.
During a joint meeting Monday of the county Board of Supervisors and School Board, the bodies heard about the school division’s five-year financial forecast in preparation for upcoming FY20 budget discussions.
“Even with no initiatives in the next five years, our anticipated needs exceed projected revenues and we are projecting a gap of $2.3 million in the first year that balloons to $14 million in five years,” Rosalyn Schmidt, the school division’s chief operating officer, told the boards.
Schmidt said the local government now supports more than 70 percent of the school division budget.