Novi
School Board approves deficit spending plan;
Manar steps down from Treasurer position
January 20, 2012
NOVI, MI - The Novi
Community Schools Board of Education met for a regular
meeting Thursday evening.
The Board as expected approved
an updated budget for the current school year. The
budget forecasts total revenue of $68 million, and total
expenses of $70 million, with the expected $1,939,000
shortfall to come from the fund balance (savings
account). This is expected to leave the fund balance at
14% of total expenditures.
The Food Service Budget was
also approved, with a shortfall of
$126,000 also coming from the fund balance.
The Board approved receipt of a generous gift of $50,000 from
Magna Seating to be used for the "First Robotics
Scholarship."
Trustee Jason Manar resigned
the Treasurer position, citing a conflict with his
employment. Ann Glubzinski will assume that position.
The complete agenda and
packet material is available
here.
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