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Treasurer warns of multi-year shortfall; property tax changes and levy limits create uncertainty for Cuyahoga Falls schools
Summary
The district—s treasurer presented an updated four-/five-year forecast on Oct. 8 showing a projected revenue shortfall beginning in fiscal 2029, dependence on several local levies and exposure to pending state property-tax reforms that could affect renewals and reimbursements.
Cuyahoga Falls City School District—s treasurer told the board on Oct. 8 that the district is projecting a multiyear operating shortfall unless revenue increases or expenditure reductions are enacted.
The presentation of the official forecast (the district continues to maintain a five-year planning outlook even though state submission is four years) showed a pattern of expenditures outpacing revenue and projected a revenue gap by fiscal 2029. The treasurer said the district would need either a 4.76% revenue increase or roughly $4.2 million in expenditure reductions to balance the fifth-year projection.
The forecast highlighted three locally voted levies the district relies on: a 9.97-mill levy on the ballot in November, a 4-mill building levy enacted in 2019 that expires with collection in 2029, and a 3.7-mill levy that…
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