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School treasurers and analysts tell Senate cap on carryover would destabilize districts; experts urge tailored policies
Summary
Economists, superintendents and treasurers warned the Senate Education Committee that a proposed 30% cash‑balance cap and rollback provision could force rollbacks, reduce bond ratings and disrupt school planning; experts recommended locally set minimums/maximums or policy alternatives.
A proposed change in the state budget to cap school district cash balances at 30 percent drew sustained pushback Tuesday from analysts and district leaders, who told the Senate Education Committee the rule could destabilize finances and force unintended consequences.
“In more than 30 years of school‑finance work in Ohio this is the single most problematic policy proposal I’ve ever seen,” Howard Fleeter, a consultant to the Ohio Education Policy Institute, told the panel. Fleeter said a July analysis found 478 districts were above a 30 percent threshold and that $3.73 billion could be at risk of rollback by county budget commissions.
Fleeter and multiple treasurers and superintendents said the cash balance varies by district…
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