In a presentation Monday on a revised spending plan, Charleston School District's chief financial officer said a $6 million shortfall in the 2014-15 budget has been cut by about $2 million.

Michael Bobby said he may trim the district's proposed general operating budget of $407.5 million by an additional $500,000 to $1 million through unspecified cuts by the time the school board sees the budget again next week.

Any remaining funding gap will likely be closed through the use of the district's rainy day fund of around $42 million, he said. The district is not proposing a property tax increase.

The spending cuts were presented during a public hearing attended only by district staff. No one commented on the proposed budget.

Last week the school board told district officials to find a way to slash $6 million from next fiscal year's budget which begins July 1. That's because the district's revenues for the general operating budget are projected to come in at $401.5 million while spending was proposed to rise to $407.5 million. With the reductions, the operating budget is now projected at $405.6 million.

The driving factor in the rising expenses is $11.6 million tied to employee pay. Plans for employee pay include funding for a step increase, or additional pay for an additional year of experience, at a cost of $3.1 million. Plans for the partial implementation of a new salary study that will boost pay for some employees based on market pay for similar positions will cost another $8.5 million.

The board will hold its second reading of the budget on June 9.