Latest news with #PhillipPenn
Yahoo
16-04-2025
- Business
- Yahoo
Cabarrus County considers $342M school funding request
CONCORD, N.C. () – Cabarrus County Commissioners are considering a funding request from Cabarrus County Schools to increase the district's budget by more than $90 million. The total ask is $341,813,999 for the upcoming fiscal year. The superintendent's Proposed 2025-2026 Local Budget was adopted by school board members Monday evening. Commissioners heard the proposal on Tuesday. Financial planners are currently working to reduce an $11 million shortfall for the current budget due to unexpected expenses and funding sources falling through. The district's chief financial officer, Phillip Penn, said they have already reduced the difference to $8.6, and he feels confident they can close the gap by next year. District leaders cite lost revenue as the major contributor to the budget shortfall. They predict the district will lose more than $1.5 million from a reduction in Medicaid reimbursements. In total, experts anticipate CCS will have $2.8 million in income in the 2025-2026 school year. Officials and parents are concerned about the district's ability to serve students with disabilities with the Exceptional Children's program. District leaders say the cost of providing specialty services and the number of students who need them continue to increase. Data shows there are an estimated 4,455 students in EC programs, a 17% increase from 2020. Federal funding decreased for the services in 2024, and temporary ESSER funds ran out. The historically underfunded EC services were short by more than $9.8 million for the past year. Parents have also raised concerns about the proposed elimination of 60 positions. The move would save approximately $3 million, according to Penn. Commissioners will vote on the request later this spring. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-03-2025
- Business
- Yahoo
Cabarrus County Schools discusses '25-'26 budget amid current funding shortfall
CONCORD, N.C. (QUEEN CITY NEWS) – The budgeting committee for Cabarrus County Schools is scheduled to meet Thursday to discuss current financial shortfalls and review a proposed budget for the upcoming year. Chief Financial Officer Phillip Penn said the district's financial situation has improved since they announced a $11 million deficit at the beginning of the year. Cabarrus County Schools request funding for new roof amid budget woes In a letter to Superintendent Dr. John Kopicki, Penn stated officials found nearly $4.4 million in savings. Penn said he believes its possible to close the remaining gap by the end of June. The Budget Finance Committee will review the Superintendent's Proposed 2025-2026 Local Budget. The plan details current funding levels and anticipated needs for salaries, non-personnel expenses and Capital Improvement Projects for individual schools. Members will also discuss shortcomings of anticipated revenue, such as reselling of 'used Apple products.' Penn's memo to Dr. Kopicki states the district received $138,000 less than anticipated. Parents said they're concerned about what cuts may come from special education classes, or the Exceptional Child program. Of the $11 million gap, roughly $3 million is related to EC programs. Parents concerned about $3M special-needs funding as Cabarrus County Schools addresses $11M budget deficit Thursday's committee work session begins at 6 p.m. at the Cabarrus County Schools Education Center. Board of education members will hear the proposed budget Monday, March 31. The board will hold a public hearing on the budget April 7. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
