What if the Override Continuation Doesn’t Pass? Will the Sky Fall?

The Gilbert School District has cash on hand from year to year maintained as rainy day funds. At the end of the past several years the district reports a cash balance on hand of approximately 52M on average. Currently there is approximately 11M in unrestricted fund balances available for use and transfer into the maintenence and operations fund.

If the override does not pass, the board and superintendent should avoid the proposed cuts to teacher salaries, arts, music, library, social workers, nurses, etc. and alternatively dip into the 11M in rainy day funds to offset the 1st year cuts. The 1st year cuts are expected to be approximately 5.5M, and there is 11M held in rainy day funds. The district leaders should use those funds to offset the first year of cuts in the 2013-2014 year. Between now and 2014, the district should reorganize the Community Budget Committee and give those representatives the information they requested to conduct a thorough analysis into the districts spending. If the CBC as a committee gives the board a recommendation that an budget override is necessary after a thorough analysis in order to maintain quality education or to accomplish the vision and mission of the district, the board can request that another override is placed on the ballot in the year 2014 to avoid a future deficit or cuts.

                                 Cash on Hand (Total)                Cash on Hand (Minus restricted funds)
   2010                                    $44M                                                  $13M
   2011                                    $57M                                                  $13M
   2012                                    $53M                                                  $11M

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