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Board approves permanent appropriations, monthly finance report and five-year forecast as treasurer warns of midterm deficits
Summary
The Akron School Board approved the permanent appropriations resolution, the August financial report and the district's five-year forecast. Treasurer and staff projected growing deficits by 2028 without cost reductions; presenters recommended early action and a performance audit.
The Akron Board of Education on Monday approved a package of financial items including the permanent appropriations resolution for fiscal year 2026, the district's monthly financial report for August and an updated five-year forecast — votes that followed brief committee review and presentations by the treasurer.
Treasurer Michael Bowers (board transcript reference: Mr. Bowers) said the early months of the fiscal year showed stronger-than-expected revenue tied to a new levy and modestly lower expenses, producing a short-term cash benefit. "So far this year, we are up $18,400,000 in revenue and expenses are down $6,500,000," the treasurer reported during the meeting.
Why it matters: despite early-year positive cash flow driven largely by the new levy, the district's long-range…
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