In a special meeting Tuesday evening, the Logan County School District Finance Corporation Board of Directors met to look at a way to save some money for the school system.

They can do that by refinancing the bonds for Olmstead School, an amount of around $2.4 million. The bonds were issued in 1997. Superintendent Marshall Kemp said that by refinancing they could save around $170,000 over the next ten years.

“We do what we can to save money,” Kemp said.

In the Board of Education meeting later that evening, the board dealt with other financial issues. Kemp said one item was the presentation of school allocations to the Site Based Councils for the 2008-2009 school year. The councils are told what they get and begin looking at what they can do with those funds. They can make additional requests if they need to.

However, this year, with the state budget still uncertain, Kemp said they are still not sure what will happen.

“Even if funding stays the same, that is really a cut,” Kemp said.

Governor Steve Beshear had warned that the education budget may have to be cut. However, how much this will mean, if any, is still not known.

Allocations for most schools are based on populations. Two schools, Auburn and Adairville have gone down a bit. The high school has gone up, but staffing there does not change.