The State Board of Education will meet in special session Wednesday to consider taking over management of a southeast Kentucky school system. The Monticello Independent school district has waived its right to appeal a state takeover. The problems plaguing Monticello schools are not academic.
A financial analysis by the Kentucky Department of Education finds enrollment is declining while expenditures remain too high for the size of the district.
A revenue forecast dated January 7 of this year estimates the general fund for Monticello will end the current school year with a negative balance of more than a million dollars. Additionally, the state last month had to advance over $700,000 to Monticello to continue operating and make payroll.
Education Commissioner Terry Holliday calls the financial situation dire, and based on projections, the school system will have to shut down by the end of the month if state management does not occur.
Breathitt County schools went under state management in December. Until then, the last state takeover was of Floyd County schools in 1997.
