Little Miami treasurer warns levy renewal is critical as forecast shows growing deficits

Treasurer Brent, the district’s treasurer/CFO, told the Little Miami School Board on Oct. 6 that the district is operating with a current-year deficit of about $911,000 and faces growing shortfalls in coming years unless revenue sources change. "We are operating current year at a deficit, of about less than a million, about 911,000," he said. He presented the board with an October update to the district forecast and explained how levies, state funding guarantees and enrollment interact with the budget. The forecast submitted to the state is summarized in a 23-page document the treasurer provided to the board.

The treasurer emphasized the district’s heavy reliance on a renewal levy passed in 2011, which he said provides roughly $10.6 million of operating revenue. "It's the same levy we've had for 14 years now. No new taxes, no additional funds," he said, adding that the levy represents about 16% of operating revenue. He also described the state credit that reduces homeowner share for the current levy cycle and said that, if the levy were treated as a new levy in the future, taxpayers would pay the…