Another surprise deficit
Woonsocket school officials met last night with city leaders to discuss their unexpected $2.7 million deficit, and they’re no longer alone: North Kingstown schools now say they may also face red ink in 2012.
The Providence Journal reports that North Kingstown’s shortfall is projected to reach $1.2 million. School officials say the deficit is due to several factors, including a reduction in the size of the student body, which has led to a subsequent reduction in state aid under Rhode Island’s new school funding formula.
North Kingstown is also projecting that school costs for 2012 will exceed earlier estimates. At the same time, the district is experiencing a decline in tuition revenue because of fewer students from Jamestown.