FRANKLIN COUNTY, Va. – Franklin County Public Schools Superintendent Dr. Kevin Siers announced the school system is facing a $1.7 million budget deficit citing an accounting error.
The deficit occurred during an audit of the school system’s financial records for the 2024-2025 school year. The error was made when $2.6 million of expected revenue was copied from the 2024 fiscal year and posted in the 2025 fiscal year when that revenue wasn’t expected to be received.
This then made the school system appear to have a budget surplus, when in reality they’re in a $1.7 million deficit.
In a statement to 10 News, Dr. Siers writes “Our administrative team is working diligently to identify available funds that can be immediately applied toward the deficit and to take budget reduction measures during the year that will make up the difference. We are optimistic that this can occur without impacting the quality of instruction in our schools.”
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