Nearly one in five of the region’s schools ran at a loss last year.
And the total deficit across schools in the red was more than £600,000.
The figures were revealed following a freedom of information request by the Scottish Liberal Democrats, who discovered that 238 schools across the country spent more than they were allocated.
The party’s education spokesman, Willie Rennie, said: “It is shocking to see hundreds of schools across the country reporting budget deficits.
“We know parents are being asked to contribute to school funds out of their own pockets, that schools are considering closing early and that subjects are being dropped from the curriculum.
“The prolonged and bitter teacher pay dispute has caused unquantifiable harm to the relationship between the teaching profession and a SNP Government that told them they were paid more than enough.
“Now that a deal has finally been struck, ministers need to make sure that schools, teachers and pupils have the resources they need to flourish.
“The omens are not good. Local authorities are being threatened with financial punishments if they don’t keep up SNP teacher number promises but little extra money is being provided to make those promises a reality.
“The government must urgently address these funding pressures that are impacting on children’s education and leaving schools struggling to make ends meet.”
The Lib Dems discovered that in 2021/22, 238 schools across Scotland reported deficits, totalling £5,674,742.
In Dumfries and Galloway, 22 of the region’s 115 schools ran at a loss during that financial year, totalling £633,112 – the second highest figure among the local authorities that responded.
A council spokesman said: “Any schools which had a deficit outturn position at March 31, 2023 are currently working through the internal audit process set out in our devolved school management guidance to develop action plans to resolve the position in the coming financial year.
“Overall in Dumfries and Galloway devolved school management budgets for 22/23 financial year were underspent, with less than 20 per cent of our schools being overspent.”
“Local authorities allocate the total financial resources available to them, including setting school budgets, on the basis of local needs and priorities, after fulfilling their statutory obligations and the jointly agreed set of national and local priorities. The Scottish Government has increased resources available to local government in 2023-24 by more than £793 million, a real terms increase of £376m or three per cent, compared to the 2022-23 budget figures.”