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Tuesday, October 24, 2006

School Beat: Big Foot: School faces deficit: Fund Balance drop; Error in equalized Aid; Retiree expenses

Click on the post for the story today about the Big Foot School District. They had a drop in their fund balance to 1 million. They are concerned. This is also the level of the fund balance of Evansville.

Then Big Foot made an error in estimating their equalized aid--like a $250,000 error. Then they faced retiree health expenses of $250M. As I understand the analysis at the Finance committee last week in Evansville, the premium estimated over 30 years backward, calls for a premium of over $400,000 this year. So---health care benefits are going to be a big number watching forward for all school districts.

Stay tuned. Big Foot Schools will be interesting to watch. The Observer will be on the job to follow this story.

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