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Treasurer warns of deficit and state cash‑cap risk as board approves five‑year forecast
Summary
Treasurer Carter told the board that Marion City Schools is projecting deficit spending this year and faces uncertainty from proposed state limits on district cash balances; the board approved the five‑year forecast and directed ongoing monitoring.
Treasurer Carter presented the district's five‑year forecast at the Marion City Schools Board of Education meeting on May 29, telling board members the district is "deficit spending, so we are expecting a little over $2,000,000 loss for the year." The board voted to approve the forecast.
Why it matters: The forecast shapes staffing, program and capital decisions and the treasurer flagged potential state action that could require transfers of local cash balances. That would materially change the district's planning assumptions.
What was presented and discussed Treasurer Carter summarized key figures: the district is projecting a roughly $2 million operating loss for the current year but maintains a cash balance that keeps it…
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