There’s no need to sound the alarms.
The Vermilion Board of Education scheduled an emergency meeting for 7 p.m. tonight at the district’s administration building on Beechview Drive to review the district’s five-year financial projection, director of finance and business operations Amy L. Hendricks said.
An emergency meeting does not mean there is a financial emergency in the district, Hendricks said.
“Just a part of routine financial planning,” Hendricks said. “It’s not meant to send up any red flags.”
Board meetings typically are filled with agenda items that do not focus on the district’s finances. As a result, the district’s finances are pushed to the back burner. Monday night’s meeting will give the board a chance to focus on the district’s finances and to take a “fresh look at what the financial plans are ... where we have to reduce, add and at what point do we need a levy,” Hendricks said.
Hendricks said the district will finish this year “fine” but could end up in a deficit at the end of the 2008-2009 and by 2010 be put in a position to “make some decisions.”
The district faces an exodus of teachers who will retire this year, and the board will need to decide whether to replace those jobs or cut the number of teaching positions.
There are 2,500 students in the district, Hendricks said.