Hermes: SVE is in the black
SPRING VALLEY — At first glance, Spring Valley Elementary School District seems in dire straits with a budget deficit of more than $2 million dollars, but Superintendent Jim Hermes was quick to point out those numbers are deceiving.
“This is a positive budget,” Hermes said. “We’re taking in more than we’re spending.”
The official Fiscal Year 2013 budget shows a total revenue of $6.8 million, but expenses totaling $8.9 million for a total deficit of $2.1 million. This includes the projected amount the schools plans on spending this year for the new addition, which is already in the bank.
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