[Nfbk] FW: Important - SRC Budget Information Update

[Cathy]

Good Afternoon,

Below you can read about the gloomy outlook for the Office for the Blind.

Cathy
-----Original Message-----
From: Wright, Jennifer (OFB-FK) [mailto:JenniferN.Wright at ky.gov]
Sent: Monday, March 12, 2012 11:10 AM
To: Smith, Chris H (OFB-FK); Smits, Ann (CHFS DMS); Ann Smits; Becky Cabe;
Bess Douthitt; Bill Deatherage; Monterosso, Bill (OETCO-FK); Cathy Jackson;
David Lawson; Don Gerard; George Stokes; Gordon-Brown, Gerry (CAP-FK); Gerry
Rader Slusher; Jim Shaw; ki4vjd at gmail.com; Kay Mathis; Kim Zeigler; Michael
Freeholm; Dahmke, Mitch; Shirley, Patrick B (Education Cabinet); Paul Wiese;
Paula Wiese; Nesbitt, Richard (OFB-FK); Roger Schaf; Sharon Fields; Sharon
Fields (work); Matthews, Soraya - Division of Learning Services; Deeley,
Stephen P (OFB-LV); Susan Ament; Hammons, Twyla S (OFB-SS)
Subject: Important - SRC Budget Information Update
Importance: High


Below is the latest budget information from Chris Smith.





Good morning Council members,



As promised, we are providing you an update of the Office for the Blind's
current budget situation.



The Office for the Blind has been asked to reduce their budget by 4.2
percent this current State Fiscal Year.  Budget reductions over the last
several years have left the Kentucky Office for the Blind in a major
financial crisis.  We have reached a point that replacing only the 4.2% cut
this fiscal year will not solve our budget deficit.  As of this moment, the
office has an outstanding debt of $1,567,000 for this current fiscal year.
As you may know, for every $1 of state funds available, the Office for the
Blind is able to draw $3.69 federal funds.  To fix this deficit, the office
will need $338,700 of state funds to draw over $1,233,300 of available
federal funds for this current fiscal year.



This loss of state funds will have an overall negative impact of $2,921,786
to the state of Kentucky.  It is also estimated that 616 individuals that
are visually impaired or blind will not receive rehabilitation services from
our office.  These services are extremely important because they allow
citizens with disabilities an opportunity to become productive,
self-sufficient, tax- paying citizens in their communities.



These funds are critical to the services OFB provides and without these
funds all services will begin to diminish.



Sincerely,





Chris Smith










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