Budget Shortfall Could Mean Pay-Raise Cut for Wake Schools
Posted June 23, 2007
Raleigh, N.C. — Wake County Public School System leaders might cut employee pay raises to deal with a budget shortfall.
School officials are expected to discuss the propose to drop $4 million in salary increases, as well as funds to start lacrosse programs at high schools, at a work session scheduled for next week.
The system will also use more than $800,000 from its reserve fund.
In May, the school system requested $305 million to keep up with growth and the influx of students, and county commissioners hinted that it would be able to allocate $294 million without raising taxes.
On Monday, the Wake County Board of Commissioners approved a 0.8 cent increase in the county property tax rate that will give the school system $6 million more for its 2007-2008 budget but $5 million less than what it requested.