Thursday, August 30, 2012

Can School Districts Run A Deficit?

The answer is, "Of course they can!"

What brings this question to mind:  I just received my annual automobile tax notice from Spartanburg County and there were two charges that puzzled me: $.57 for "McCarthy Teszler Prior Year Deficit" and $5.10 for "District 7 Prior Year Deficit."  Does anyone know what these are about?  Prima facie, they look to be additional taxes to cover a shortfall for the two entities.  If so, how does this work?  Are the taxpayers always on the spot when the District overspends?    I'll do some research and get back to you!

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