KING CITY, MO — An unexpected carryover of funds is reflected on the 2011-12 school year for King City R-1 School District. The district has about $109,000 in carryover funds, according to Superintendent Bruce Skoglund, which reflects how unsure the funding picture has been in recent months and years.
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The school had been spending reserves and losing ground on servicing debt while taxes from the Lost Creek Wind Farm in DeKalb County were in dispute. Assessment figures depict a scenario where King City R-1 would be receiving nearly $400,000 more in tax money but that amount is currently in escrow until the State Tax Commission settles the dispute. School officials say if the school does not prevail in that dispute, the carry-over amount will be needed to service debt.
The school district reaffirmed its pledge to assist the county in the tax dispute.