Audit reports from the State Board of Accounts and the Council of Great City Schools (CGCS) said the district actually has $60 million in cash reserves.
The Brown County School Corporation has sent questionnaires out to parents to gather input on a way to tackle the district's general fund deficit.
Amtrak will discontinue its service from Indianapolis to Chicago by next year if it the state doesn't intervene.
The school board is expected to finalize a plan for reducing its budget by May 1st.
When Mayor Mark Myers came into office he discovered Greenwood had a deficit of $4.2 million.
$3.5 billion in education funding is now in jeopardy as the supercommittee's deadline looms — and the cuts could hurt some Indiana districts harder than others.
There was some danger that programs administered by the state, but paid for mostly by the federal government would be hurt by failing to raise the debt ceiling
A forecast received Wednesday by the State Budget Committee offers little hope of economic growth in the near term.