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Trotwood-Madison treasurer warns five-year forecast shows growing deficits; House Bill 96 could cut revenue
Summary
Treasurer Janice Allen told the Trotwood-Madison City Board of Education at a May work session that a five-year forecast projects rising deficits, heavy reliance on state funding and potential damages if House Bill 96 or a proposed 30% carryover restriction passes.
At a May work session, Trotwood-Madison City Schools Treasurer/CFO Janice Allen presented the district's five-year forecast and warned that proposed state changes could materially reduce future revenue.
Allen told the school board the forecast is an estimate but said it shows expenditures rising faster than revenue and the district entering deficit spending later in the decade. "This is an estimate, a forecast," Allen said. "If I knew all the numbers, I probably wouldn't be standing here. This is our best guesstimate."
The forecast lists FY2025 expenses near $44,000,000. Allen said a state proposal discussed as part of House Bill 96 would limit allowed carryover to 30% of expenses;…
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