Region 8 School Removed from Fiscal Distress List

JANUARY 9, 2006 - Posted at 4:03 p.m. CST

LITTLE ROCK, AR - State education officials today removed three school districts from the list of those fiscally distressed, including one in Region 8.  Heber Springs is one of three districts which avoided a possible state takeover with their removal today from the list, since the districts corrected their financial problems.

The other schools are Crossett and Lakeside (Garland County).

The districts were placed on the list last school year.  At the time, education officials found that previous audits showed Crossett had a projected negative balance of more than $380,000; Heber Springs had a deficit of almost $650,000 and a $1 million line of credit to finish the 2003-04 school year; and Lakeside had a deficit of almost $1 million.

(The Associated Press contributed to this report.)