Problem: You are the Assistant Superintendent for finance in Lake Forest City Schools (LFCS). Enrollment at LFCS is strong, with just over 3,500 students. Approximately 75 percent of the school district's operating revenue comes from local taxes and city funding. It is February and the fiscal year ends on June 30. The city has not sent the last 3 million dollars of your annual state appropriation. The City Treasurer indicates that property tax income is lower than expected because many families experienced unemployment due to the recent pandemic. Your district has a small grant of less than 5 million dollars. There is enough operating cash to pay salaries through the end of May. If the needed funds are not received after May, teaching contracts will be held up and some faculty and staff members will face an indefinite furlough. Programs and positions under consideration for budget cuts include, but are not limited to: Special education. Arts. Vocational education. After-school tutoring programs. Extracurricular activities.