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The Shelby County Board of Education reviewed a draft budget last Thursday night that projects only modest gains in revenue for the district and a decrease in expenses.
According to the draft, lower interest rates and a decline in reimbursements from last year's expenses are expected to result in limited overall growth in local revenue.
Dr. Bob Arvin, the district financial consultant, said cuts to the federal interest rates have hurt the district's income. He said further cuts to the rate could increase the loss.
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