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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.