The balance is the result of normal cash flow. Account expenditures since the bad debt was excluded have been limited to the amount of revenue received.
Projected revenue is based on new legislation.
This balance represents a pre-existing structural deficit resulting from prior year circumstances beyond SED control. SED is requesting debt forgiveness from the Division of the Budget to eliminate this debt. This imbalance is the result of normal cash flow and the use of prior year funds to meet current year obligations.