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Volusia County School Board dips into savings for $22 million
By Al Everson
posted Aug 14, 2013 - 7:17:18am
The Volusia County School Board is dipping into its savings account to keep intact programs that had been funded by federal dollars.
The school district stands to lose about $3 million because of the sequestration of federal spending, mandated in the 2011 budget act approved by the Congress and President Barack Obama as a last resort to rein in federal deficits and the growing national debt. Among the cuts is money paid for teachers and paraprofessionals in programs for disadvantaged students and exceptional-student education.
The School Board and district administration decided to appropriate about $21.7 million from its savings account, leaving almost $23 million as a cash cushion for emergencies or other unforeseen expenses.
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