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Mount Vernon board approves May fiscal forecast, creates capital-projects and termination-benefits funds
Summary
The Mount Vernon City School Board on Monday approved the district—s May financial forecast and created two restricted funds to set aside money for future capital work and employee severance.
MOUNT VERNON, Ohio — The Mount Vernon City School Board on Monday approved the district—s May financial forecast and established two new restricted funds to set aside money for facilities work and employee severance costs.
Treasurer Judy Forney presented the May forecast and told the board the district is "expecting to end this fiscal year with, the $19,734,000," while also warning that "we do need to appropriate an extra $10,000,000 I know that sounds like a lot." The forecast and the fund-creation resolutions passed on roll call.
The measures matter because they formalize a plan to reserve money for long-term maintenance and for payout of accumulated sick-time and…
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