MARBLEHEAD – Faced with a budget shortfall, the Marblehead Community Charter Public School trustees are seeking a contingency budget that will reduce this year’s expenses by $240,000.Interim Managing Director Albert Argenziano and Interim Academic Director Nina Cullen-Hamzeh have been asked to have the budget prepared by next Wednesday so the Finance Committee can review it in time for the Nov. 1 trustees meeting.They have also been asked to find new sources of revenue.New School Treasurer John Sullivan, who took office two weeks ago, told the trustees Thursday night that the school has a surplus of $470,000, but called it "imprudent" to spend it all, since a surplus is something school creditors consider when setting terms.Moreover, he said, the school will face serious cash flow issues next September unless the trustees take preventative steps now.The school’s troubles have resulted in a lower-than-anticipated enrollment this fall. As of Oct. 2 the school had 192 students, 35 less than the 230 they had last year. The school based its $2.325 million budget for the current year on an enrollment of 230, with revenue of $10,000 per student, and expected a $46,000 surplus.With actual revenue of $1.905 million the school faces a $461,000 loss."There is some good news here," Sullivan noted in his report. "The problem the school has is time-sensitive. That is, if the problem is solved early, (it will have) less of an impact on the school itself. If this were discovered six months from now, the decisions would be far more difficult to make."