Newspaper article THE JOURNAL RECORD

CV Tech Budget Cuts Exceed $1 Million

Newspaper article THE JOURNAL RECORD

CV Tech Budget Cuts Exceed $1 Million

Article excerpt

YUKON - Canadian Valley Technology Center's budget for the current school year has been cut $1.05 million because of reduced funding from the state education funding formula, which is allocated by the Legislature.

Nearly 51 percent of Canadian Valley's annual operating budget is from ad valorem property taxes. Another 13 percent of school revenue is distributed through the state education funding formula.

CV Tech started the school year in August with $315,000 less in state formula aid. Since then, the school has been notified of combined cuts of $733,000.

Appropriations have decreased significantly for all state agencies in the current fiscal year, primarily due to severely declining energy sector profits and resulting taxes.

"Everybody in education has been severely affected by decreased state appropriations," said CV Tech Superintendent Greg Winters. …

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