The Oak Ridge City Schools could close October 1st unless the city addresses a funding issue. The Knoxville News Sentinel reports that Oak Ridge City Schools could close unless the city finds $250,000.
The state gave notice that it would withhold almost $1.9 million a month from the school system, unless the city meets state-mandated funding.
The issue stems from sales tax revenue to cover the debt on renovations at Oak Ridge High School. A 2004 referendum approved a half-cent sales tax increase, expected to pay for that renovation. But the county passed a half-cent sales tax referendum itself, which counteracted the city sales tax hike.
The Oak Ridge City Council and the school board would have to approve any resolution in two meetings each, but as yet, neither group has called any special meetings on the issue.
