By Ashleigh Costello
EAGnews.org

MANATEE, FL. — School officials in the Manatee County school district are blaming a miscalculation of funds for a $3.4 million budget deficit.

The deficit, which came as a surprise to both administrators and taxpayers, indicates a loss of more than $8 million from the district’s fund balance since last June, when there was about $5.3 million in the district’s reserve, reports the Bradenton Herald.

MORE NEWS: From Classroom to Consulate Chef: Culinary Student Lands Dream Job at U.S. Embassy in Paris

The problem began last spring when the district hired 58 additional teachers but never included their salaries – totaling $3.2 million – in the budget.

Chief Financial Officer Michael Boyer said the district hired more teachers in order to comply with state law that places a limit on class sizes.

In total, teachers’ salaries and benefits were $6.7 million over budget in 2011-2012. The district also failed to account for $700,000 for textbook expenses and $480,000 for teachers for the E Tech Virtual School, reports the news site.

Superintendent Tim McGonegal, who recently announced plans to retire in February, said the poor estimates were the result of the district finance staff trying to accomplish too much within a limited time frame.  He was unable explain some of the other financial gaffes.

“There was a disconnect.  I don’t know how that happened,” McGonegal said.  “The result is unacceptable.”

District officials have developed a plan that would bring the fund balance up to $5.7 million by next June. The plan focuses on keeping both current and additional district positions vacant, limiting staff travel and filling non-instructional school positions with substitutes, according to the news site.

MORE NEWS: Know These Before Moving From Cyprus To The UK

The plan first needs to be approved by the Florida Department of Education.

While school administrators were aware of the deficit since early August, school board members only learned of the mistakes in the past few days.

“There are a lot of implications to the timing of this,” said board member Julie Aranibar, who expressed frustration at the situation.  “I don’t know the truth.  All I know is that I found out today.  And the public found out today.”

The board is set to discuss the district’s next steps at its regular meeting Monday night.