"A week after informing principals that they would be prohibited from saving extra money this year to pad next year’s sure-to-be-slim budget, Chancellor Joel Klein has reversed his decision.
In an e-mail sent to principals this morning, Klein said the city’s budget office had figured out how to let principals roll money forward to next year after all. Only schools whose budgets meet criteria “to prudently set aside money” will be allowed to do so, Klein said.
The reversal puts back on the table a key strategy that many principals use to reduce the impact of imminent budget cuts. About half of principals managed to save money during the 2008-2009 school year, together rolling over $95 million into this year’s budget. The funds mitigated against the 5 percent budget cut announced last May."
In an e-mail sent to principals this morning, Klein said the city’s budget office had figured out how to let principals roll money forward to next year after all. Only schools whose budgets meet criteria “to prudently set aside money” will be allowed to do so, Klein said.
The reversal puts back on the table a key strategy that many principals use to reduce the impact of imminent budget cuts. About half of principals managed to save money during the 2008-2009 school year, together rolling over $95 million into this year’s budget. The funds mitigated against the 5 percent budget cut announced last May."
