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Fremont schools warn of budget uncertainty as state education bills advance
Summary
Board members and the treasurer told the Fremont City Schools board their five-year forecast is highly uncertain because competing versions of Ohio’s biannual education budget and proposed cash-balance limits could change district revenues and tax levy planning.
The Fremont City Schools treasurer and board members told the board Wednesday that pending changes in the state’s biannual budget and a proposed 30% cash-balance cap are creating major uncertainty for next year’s finances.
Why it matters: The district must adopt appropriations and a five-year forecast tied to state funding assumptions; significant differences between the governor’s, House and Senate versions of the budget could change projected revenue and the district’s ability to set property tax levies.
Treasurer (unnamed) told the board the forecast she will present at the next meeting is “the most unknown forecast I have ever done,” citing competing versions of the budget and legislative movement. She said the unpredictability makes it hard to finalize assumptions for the five-year forecast…
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