Noblesville Schools (Indiana) recently announced plans to lay off staff due to a multi-million dollar deficit (Fox59 article). According to the superintendent, the budget shortfall stems from three main factors: a new state property tax law which has led to reduced funding school corporations and cities, a decline in student enrollment, and increased inflation.
The school district has made attempts to save money by, for example, freezing salary or providing only modest salary increases, renegotiating contracts, and shifting equipment purchases. However, these changes do not adequately address the budget gap. Noblesville Schools anticipate that reducing staff could save more than $3 million annually.
Reduce spending to retain staff
Silverback addressed this same topic in a 2018 post, and the pressure on school budgets has only increased since then. Expense reduction analysts can help school districts analyze spending in areas such as utilities, waste, office supplies, bus transportation and equipment, and make recommendations for cost reduction. Saving money in these areas can reduce the pressure in other areas, allowing school districts to retain more staff and continue to provide valuable educational programs.
Silverback has worked with a variety of educational institutions, both public and private, to help lower costs and increase cash flow. Let us help your school district find ways to reduce expenses so you can focus on providing quality education to students. If you would like to explore how Silverback can help your school save money before you end up reducing staff, contact Silverback today.
Silverback helps companies increase cash flow and become more competitive by reducing costs through innovation and improved efficiency. For more information about how Silverback can help your organizations, contact Scott Grotjan at sgrotjan@getsilverback.com
