July 1st, 2016 by WCBC Radio
As a result of sky rocketing health care costs, the Allegany County Board of Education was forced to make an end of the fiscal year budget amendment which drastically depletes the system’s reserve fund. The board held a brief special meeting Thursday morning to approve a transfer of $2.2 million from the reserve fund to health insurance. The board’s new chief financial officer Larry McKenzie said that this transaction, combined with one made at the end of last year leaves the fund balance at just one a half million dollars…
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