http://almanacnews.com/print/story/print/2012/06/06/budget-financial-update-on-portola-valley-school-board-agenda


Almanac

News - June 6, 2012

Budget, financial update on Portola Valley school board agenda

The Portola Valley school community will have a chance to hear an update on the fiscal crisis facing the Portola Valley School District when the board meets at 5 p.m. Wednesday, June 6.

The proposed budget for the 2012-13 school year will be presented at the meeting, and is likely to contain painful cuts to programs.

The district is struggling to analyze and address a deficit that came to light during audits set in motion after Tim Hanretty resigned as superintendent in January; his resignation was the result of an investigation launched by the county District Attorney's Office of his actions when he worked for the Woodside School District.

Officials subsequently announced that financial irregularities were also found in the Portola Valley district and are still being investigated by forensic auditors, county-appointed fiscal expert Sandra Lepley, and the district's interim finance official, Mark Bonnett.

The district was already working to address a projected deficit of more than $850,000 for the next school year when the auditors uncovered the additional shortfall, estimated at more than $500,000.

The June 6 meeting will be in the district office annex building at 4575 Alpine Road in Portola Valley.

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