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DC Board of Education Votes to Ensure Balanced Budget
Press release
June 26, 2002

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PRESS RELEASE

District of Columbia Board of Education
825 North Capitol Street, N.E. Washington, D.C. 20002
(202) 442- 4289 Office (202) 442-5198 Fax

For Immediate Release
June 26, 2002
Contact: Elena Temple
(202) 442-5190

DISTRICT OF COLUMBIA BOARD OF EDUCATION VOTES TO ENSURE BALANCED BUDGET
"Plan utilizes saved funds to close gap"

Washington, D.C. -- The District of Columbia Board of Education (Board) today voted unanimously to authorize the District of Columbia Public Schools (DCPS) Administration to use $11 million in spending freeze proceeds to cover all remaining spending pressures to assure that DCPS ends Fiscal Year 2002 with a balanced budget. The Board also required that all requisitions and purchase orders be reviewed by both the Superintendent and the Board to determine their educational or operational necessity prior to approval.

"The Board of Education imposed a spending freeze this March to assure savings to cover anticipated spending pressures," said Superintendent Paul L. Vance. "Today we were granted authority to use what we saved to cover the extra costs of operating the District’s public schools this year."

"We will deliver on our commitment to balance the budget," said DCPS Chief Financial Officer Robert Morales.

"The spending freeze and other cost control measures we implemented reduced the projected spending pressures from $23 million in February 2002 to $9 million today," said Board Vice-President Mr. William Lockridge. "We are requiring an additional $2 million be set aside and are closely examining remaining expenditures to ensure that there is no deficit at the end of the fiscal year. "

"We have always said that if we had timely financial reports, we could govern responsibly," said Board President Peggy Cooper Cafritz. "Our actions today further confirm this. I am confident that the Administration is working closely with the Board’s Finance Committee to balance our books before any crises arise."

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