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Kenton schools report $705,000 surplus, officials say levy still likely in coming years
Summary
Treasurer Seth told the Kenton Local Schools Board that the district ended the fiscal year with a $705,000 surplus and improved cash balances, but noted the district remains the lowest cash-balance district in the county and will likely need an operating levy again in the future.
KENTON, Ohio — Kenton Local Schools ended the fiscal year with a $705,000 surplus, Treasurer Seth said at the board’s July 14 regular meeting, a result he described as the district’s largest year-over-year percentage savings in 12 years. The board approved the district’s financial consent agenda, including the fiscal year-end report, by roll call vote.
The surplus was above the district’s forecast, Seth said: “we actually exceed the forecast by 343,000 given a reduction of expenditures,” and the district added “$705,000 overall to our cash balance.” The treasurer said salary-and-wage spending remains the district’s largest expense and that administrative costs were at 13.79 percent of the general fund.
The surplus and improved…
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