Lincoln schools finalizes 5-year deficit-elimination plan - MLive.com
With three hours to spare, Lincoln Consolidated Schools sent its newest get-out-of-debt plan to the state. 24 unanimously approved the district's five-year deficit-elimination plan, which will leave the district with $97,991 at the end of the 2019-2020 school year. Although Lincoln schools had a plan last year that would have gotten the district in the black by June 2015, school officials had unanticipated expenditures in the 2014-2015 school year. The new get-out-of-debt plan relies on layoffs, increased health insurance contributions from employees and decreased health savings account contributions for employees throughout the district. Lincoln teachers will contribute 10 percent of their health insurance premiums and receive half of the HSA contribution they previously received from the district. The plan also includes cutting a principal and assistant principal through restructuring and reducing the number of bus stops and batch bus pickups at the secondary level. The district is also reducing another $700,000 in costs by various cuts, including cutting expenses for unnecessary custodial items. Tom Burdette, a former Lincoln school board member, said there were no unanticipated expenses, but that the. Source: www.mlive.com
