Winston-Salem/Forsyth County Schools’ debt is now projected to be under $11 million, and officials are starting to feel more optimistic.
Interim Superintendent Catty Moore shared the news with the Forsyth County Board of Commissioners at a meeting on Thursday.
She said pledged private donations are expected to wipe the district’s debt to the county completely, and chip away at what’s owed to ESS — a company the district used for substitute services last year, bringing that figure down to $3.9 million.
The remaining roughly $7 million will appear as a negative fund balance.
“We are not required to pay that back. It is not a debt to be paid. It resolves itself through careful budgeting and financial management," Moore said. "Could be in a year, could be in a couple of years, but it resolves itself.”
She says she’s hopeful the balance will be zeroed out sooner rather than later.
Commissioners praised Moore for the progress made in the district’s financial recovery.
"Things are incredibly better than when you walked in the door," Chairperson Don Martin said. "And for six months to make that kind of difference is really spectacular."
Moore is leaving at the end of November, and will be replaced by Don Phipps, the current superintendent of Caldwell County Schools.
