Schools face more financial losses since Hurricane Michael
PANAMA CITY, Fla. (AP) — A Florida Panhandle school district hit hard by Hurricane Michael stands to lose up to $51 million because so many students were displaced by the storm.
The News Herald reports that Bay County school district officials said at a workshop last week that operational losses up to $17 million were expected for the current fiscal year, and operational losses up to $34 million were expected for the next fiscal year.
Officials blamed the anticipated drop in revenue on the loss of over 3,100 students since Michael hit the Panhandle on Oct. 10. They also expect a drop in property tax revenue because of falling property values in the hurricane’s wake.
School board member Ginger Littleton says rebuilding housing destroyed by the hurricane is essential to bringing students back to the district.
Information from: The (Panama City, Fla.) News Herald, http://www.newsherald.com