| The Daytona Beach News-Journal
Analysis: could take years for US GDP to rebound
The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter. It is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs. (July 30)
The Volusia County School Board approved its nearly $1 billion budget and a slight tax increase this week — complete with almost $11 million from its reserves to balance out its annual deficit.
Despite finding areas to trim the budget, the shifting landscape of education during COVID-19, years of the state’s inequitable funding system for Volusia County Schools, and ever-increasing operational costs were enough to keep the district in the red again if it didn’t dip into its savings.
More: Volusia schools’ tentative tax hike can’t overcome coronavirus uncertainties
More: Volusia schools to cut $8.5M from budget, but