Manatee School District plans to payback individual schools for the portion of
their internal accounts that was depleted during the last year to
help pay for the district's budget deficit.
School officials said the first installment of 33 percent of those funds was already given to each school electronically just in time for the kids' first day.
Another 33 percent is scheduled to be repaid July 31, 2014, and the remainder by July 31, 2015
According to Mike Barber, district spokesperson, each school donated funds to the district to help with the multimillion dollar deficit that has plagued the district in 2012-2013.
Thirty-four elementary schools donated a total of $816,646 dollars, while 11 middle schools came up with $232,838 and seven high schools gave a total of $410,502. The total amount the district plans to pay back is nearly $1.5 million.
The payment plan, presented Tuesday, would repay those schools in full over the next two years; with 100 percent of the donations reimbursed by the July 2015 deadline.