The Wichita Falls Independent School District Board of Trustee started off the new school year by talking about the budget and clerical error that left the district in the red.
One of the first items on Monday's agenda was Budget Amendment No. 4 to correct the district's estimated budget for 2011 - 2012.
The 2011 - 2012 budget started out with an estimated surplus of more than $320,000 but ended with a $1.2 million deficit due to an error.
Laura Lee Brock, interim chief financial officer for WFISD, says the district tapped into its savings account to make up for the mistake.
"To overcome the $1.2 million deficit, we're currently estimating to use our fund balance, which is currently at $14.5 million that will be used to absorb any deficit that we have estimated for the '11-'12 year.
Brock says the $1.2 million is a current estimate because the district is not done with the 2011- 2012 year until Aug. 31.
Also. the board adopted a $99 million budget for the 2012- 2013 school year.
Brock says, for that budget, there was initially a $295,000 deficit but $300,000 in administrative cuts gave the district a $5,000 surplus for the general fund.
"The goal was always to have a balanced budget and of course we'd always like to have a surplus so we can put money aside for unexpected expenditures," Brock says.
However, even though the budget for 2012 - 2013 was adopted on Monday, it will be monitored on a daily or weekly basis and they will start the budget process for next year in February.
The issue of teachers raises will be decided at a later date.
Carol Wilson loves representing the USA.
Officials from the Wichita Mountains Wildlife Refuge is asking…