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Fairborn City projects stable finances in five-year forecast; district wins national accounting awards
Summary
District treasurer presented a five-year forecast showing roughly $62 million in annual revenue, strong projected cash balances and a near 50/50 local-state revenue split; the district also received three state and national awards for financial reporting and auditing.
Mister Fano, staff member, presented Fairborn City Schools' five-year financial forecast Thursday, saying the district expects about $62 million in revenue this fiscal year and projected “strong and stable” ending cash balances over the next five years.
The forecast, which the presenter described as “our best guess at what the future looks like,” projects revenues and expenditures each of just under $62 million and an ending cash balance for the current year of roughly $34 million. Fano said the district spends about 80 percent of its budget on personnel costs and that local and state…
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