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Worthington treasurer warns state proposal could cut tens of millions from district budget
Summary
Treasurer TJ Cusick told the Worthington Schools Board of Education that competing state budget proposals and a House plan to cap school cash balances at 30% could reduce the district's revenue by roughly $80 million next year, and the board approved the district's May update to its five-year forecast.
Treasurer TJ Cusick warned the Worthington Schools Board of Education on May 12 that a proposed state cap on districts' cash balances and competing House and governor budget plans could sharply reduce the district's revenues and shorten the runways available for future levies. The board voted to approve the district's May update to its five-year forecast.
Why it matters: The five-year forecast is the district's primary long-range financial planning tool. Cusick told the board the House's current budget language would effectively freeze state formula inputs and, combined with a proposed cash-balance cap that would limit districts to 30% of annual expenditures, could force the district back to voters sooner than planned.
Most important facts: Cusick said the May forecast shows roughly $4.0 million in added…
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