Members of the Reading School Board are saying there have been miscalculations in their projected budget deficit.
Officials say the deficit for the upcoming school year is $40 million.
They also say the $11 million dollar remaining in the budget for the current year is still being adjusted for errors.
The announcement was made Wednesday night at a public hearing over the budget.
Originally the board said the total deficit was $53 million.
Residents who attended the meeting say they are concerned about possible drastic cuts.
"Why budget cutting, especially hurting our children," said resident Robert Melendez.
"It doesn't make any sense. This is our future what we are talking about."
The school board will hold another public meeting Saturday.