Paterson schools face $63.7 million budget shortfall

 

School officials revealed a $63.7 million shortfall in the 2021 academic year budget on Wednesday night.

Business administrator Richard “Leon” Matthews said the numbers are “very preliminary.” He expects the shortfall to decrease as the budgeting process gets into full swing in the coming weeks and months.

“Our expenses: salaries, benefits, and other cost drivers have been increasing at a much faster rate than our revenues. Therefore, we’re starting every year with a major deficit,” said Matthews….

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