VWSD to seek shortfall note to cover $4M revenue gap

VICKSBURG, Miss. (VDN) — The Vicksburg Warren School District Board of Trustees is expected to vote this evening on a resolution declaring a projected $4 million shortfall in local revenue for fiscal year 2025 and authorizing the district to issue a shortfall note to cover the gap.

According to the proposed resolution, the district anticipates receiving approximately $4,054,918 less in ad valorem taxes and other local revenues than originally budgeted for the fiscal year ending June 30. The estimated shortfall falls within the legal threshold of 25% of the district’s locally funded budget.

If approved, the resolution would authorize Superintendent Dr. Tori Holloway to finalize the shortfall calculation and begin soliciting bids or proposals for a shortfall note. Those bids would be brought back to the board for consideration at a future meeting.

The resolution also states that proceeds from any approved shortfall note must be used within the FY 2025 budget and applied solely to offset the revenue deficit.

Any prior board actions in conflict with the proposed resolution would be repealed, but only to the extent of the conflict.

The public meeting is scheduled for this evening, June 26, beginning at 5:30 p.m. at the Vicksburg Warren School District Board Room, 1500 Mission 66.