Parkway Superintendent Keith Marty announced Thursday that the plans to trim its budget by approximately three to five percent over the next two years.
Although no specifics were given, Marty stated in an email that the district hopes to reduce operating costs for the 2012 and 2013 budgets.
Marty issued the following statement introducing the issues.
Although Parkway continues to be in strong financial shape, our schools are not immune to the challenges of declining revenues in a tough economy.
Since 2007, Parkway's operating revenues have decreased steadily and future growth is expected to be minimal. Over the same period, our schools have worked hard to keep costs down and expenses have only grown by 2.8 percent annually. But the realities of our economy challenge us to do more.
In order to have a balanced budget, Parkway will need to reduce operating expenditures by approximately 3 to 5 percent over the next two years. A team of administrators is developing possible budget reductions to begin implementing next year. This proactive strategy will help ensure Parkway continues on a sound financial path for success in support of our 2011-16 strategic plan.
Watch for updates in January as I will be making specific recommendations to the school board for review.
Parkway's next school board meeting is Wednesday night. The agenda for that meeting, which includes budget items, is included in the PDF portion of this article.