Lynchburg School Board removes extra $862,000 towards teacher salaries and returns it to the City
The Lynchburg City school budget will get a hit moving forward, after it has been determined by the School Board to return $862,000 the City Council had allocated in support of their staff.
According to the press release from the School Board, staff salaries were a major part of developing the 2019-20 operating budget, and resulted in a search within the existing budget to accommodate an increase in these numbers. After over 80% of the money was secured within the existing budget, the City Council accounted for the rest by granting the staff another $862,000.
During the last few days through an internal assessment, it became apparent that there was an over-estimation of the funds for an adequate salary increase and living wage number for the City school staff.
According to the release:
"As a result of this finding, we:
1. Identified resources within the current budget to support the total cost of the 2019-20 salary increases and living wage adjustments for our staff
2. Will return to the City $862,000
3. Have hired an outside consultant to assist on a part-time basis with finance department operations
4. Will secure a third-party consulting firm to conduct a forensic audit of our financial practices in an effort to enhance our fiscal operations