FRANKLIN COUNTY, Va. – Franklin County Public Schools are grappling with a $1.7 million budget deficit after officials discovered an accounting error involving misplaced revenue projections.
The discrepancy came to light during an audit of the school system’s financial records from the previous school year. According to Superintendent Dr. Kevin Siers, the error occurred when $2.6 million in non-recurring revenue from 2024 was incorrectly transferred to a 2025 budget spreadsheet, temporarily concealing the deficit.
In a statement to 10 News, Dr. Siers writes “The FCPS administration recognizes the seriousness of this error and sincerely regrets that it kept our budget issues from coming to the forefront sooner. We would like to apologize to our counterparts with the Franklin County Government for the stress that this has added to their roles and appreciate their willingness to work with us to resolve this issue in a deliberate and meaningful way. We value the strong partnership that has been forged between our two entities over the past few years and look forward to continuing our work on strengthening those bonds.”
“This is a huge deal for the county and the school system,” echoed Dan Quinn, Union Hall District Representative on the Franklin County Board of Supervisors. “I would expect them to show a lot of transparency to us and to really open the books and show us exactly what happened and show us exactly what they’ve done in terms of an analysis and looking for funds.”
The revelation comes after Franklin County closed two elementary schools in 2024, raising concerns among parents and officials about potential additional cuts, though none have yet been announced.
Lorie Smith, Vice Chairperson of the Franklin County Board of Supervisors, expressed grave concerns about the impact at Tuesday’s Board of Supervisors meeting. “If we have to go find $1.7 million, it’s going to be devastating to instruction,” Smith said. “It’s going to be devastating to our teachers and our children.”
While Quinn expressed confidence that potential cuts won’t affect teacher pay or schools, parents remain worried about the deficit’s impact on student support services.
“When we lose paraprofessionals, tutors and teachers, often times that impacts the students going forward for years and years,” said Lauren Walke, who has children in the Franklin County Schools.
According to Quinn, the county may serve as a financial safety net if the school system cannot address the shortfall independently. However, Dr. Siers expressed confidence the school system could make up around 1/3 of the deficit immediately.