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Marion City Schools board approves five-year forecast as district warns state funding uncertainty could cut reserves
Summary
The Marion City Schools Board of Education approved a five-year financial forecast showing deficit spending and potential reductions tied to state-level proposals to cap district cash balances. Treasurer presented enrollment, revenue composition and projected reductions; board approved the forecast unanimously.
Marion City Schools' Board of Education on May 29 approved the district's five-year financial forecast, which projects ongoing deficit spending and warns that pending state action on district cash balances could materially change the picture.
Treasurer Miss Carter told the board the district is "deficit spending," but said the district's cash balance currently keeps it "in a pretty good place." Carter said Marion is about 77% funded by the state, 18% locally and 5% from other revenue sources, and that personnel costs represent roughly 80% of expenditures.
The forecast presented reductions to projected state revenue totaling about $2.7 million…
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