EASLEY - School district financial officials announced Monday night that the state has has cut funding again for the current fiscal year, which ends soon.

The student base cost has dropped from $1,764 to $1,756 for a loss to the district of $381,000, according to finance director Missy Campbell.

Another funding shortage of $112,000 brings the latest decline in state funding to $500,000, she said.

Campbell also noted that local tax revenue for the district could fall up to $900,000 short, due to a decline in vehicle values, as well as real estate being “off.”

She predicted that the district could have to dip anywhere from a half million to $1 million from the fund balance because of the cuts.

Campbell also noted that how the current county property tax reassessment will affect the district is still an unknown, and that for fiscal year 2011, the district has learned it will have to pay an additional 0.4 percent for the employer portion of retirement benefits, which will cost an unexpected $300,000.

She said for the extra retirement costs, the coming year’s budget includes a $1.2 million contingency line item that would cover it.

But she said figures coming in from the state continue to change, mostly declining, and she doesn’t expect funding to stabilize for at least two years.