North Ridgeville treasurer presents October financial forecast; board approves forecast in one reading

Amanda Sanchez, North Ridgeville City treasurer, presented an updated October financial forecast to the Board of Education on Monday and told trustees the district is financially stable now but faces uncertainty from recent state legislation that could reduce local revenue by roughly $12,000,000.

Sanchez said the presentation — a revised form of the district's five-year forecast now required earlier in the year — showed the district beginning the fiscal year with about $24,000,000 in the general fund and projecting to end the year slightly lower but roughly balanced. “So as July 1, the beginning of fiscal year, we start with $24,000,000,” she said. Sanchez said the district expects to remain on the positive side by about $2,000,000 through the first three forecast years but that deficits typically appear in years four and five, which is why the district continues to produce a five-year projection…