Bowie Independent School District Trustees had their first look at 2016-17 preliminary budget figures where property values are expected to take nearly a $200 million hit due to the decline in mineral values.
During the district’s first budget workshop on Monday, Chief Financial Officer Jonathan Pastusek said he wanted to give the board “some idea of what they will be looking at” when they begin budget preparations.
For the second year in a row, the district has seen its mineral values drop significantly. Last year it was $80 million alone in Montague County, not including the small portions of the district that extend into Jack and Clay Counties.
The 2015-16 budget was adopted with a $927,069 deficit; however, administrators said the a budget surplus and an additional payment in state revenue would help float the district through the deficit. That may not be the case this year, although Pastusek anticipates a similar deficit for the new budget year.
Superintendent Steven Monkres said while all the figures are preliminary, he agrees a similar deficit is expected in the next school year.
Read the full story in the weekend News.