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Canfield Local board adopts three-year financial forecast as district signals need for new revenue
Summary
The Canfield Local Board of Education adopted a three-year financial forecast showing deficit spending and flagged potential ballot measures and legislative uncertainty as the district’s path to fiscal balance.
The Canfield Local Board of Education on Oct. 8 adopted a three-year financial forecast that projects the district will rely on carryover cash to cover operations and identified two paths to fiscal balance: increase revenue or reduce expenses.
The superintendent presented the forecast and the treasurer’s office noted the district received the second half of the 2025 real estate tax settlement, producing a marked month-to-month increase in general fund cash. Officials also reported higher monthly expenses tied to a three-pay payroll month, outstanding purchase orders including a $552,007.31 pavement…
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