The district says it’s making an “accounting adjustment.” It plans to give itself a 14-month window to take in revenue next fiscal year, so state and county tax payments that come in during August will still be counted as if they came in before July 1, allowing the district to balance the books and avoid what it says would be “draconian cuts.”

Comment:  Brushing up on our financial literacy skills might bring up more challenges to these accounting “gimmicks.”  Too bad we can’t treat our household budgets this way.

http://www.wbez.org/news/education/cps-accounting-adjustment-will-increase-funding-schools-slightly-watchdog-warns-its