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Iowa City Schools to Lose $5.5 Million After State Budget Cuts

By Becky Ogann

Story Created: Oct 14, 2009 at 12:22 PM CDT

Story Updated: Oct 14, 2009 at 12:22 PM CDT

IOWA CITY - A 10-percent cut in the state budget could force Iowa City schools to borrow money from itself.

The cut means the district will lose more than $5.5 million in state aid.

At Tuesday night's school board meeting, the district said it will use reserves to offset the loss. If it needs much more, Iowa City will be forced to borrow from Local Option Sales Tax revenue.

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