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Troy School Board reviews five-year forecast and discusses levy, income tax and retirement costs
Summary
School officials presented a conservative five-year financial forecast that assumes continued income-tax growth, flat state aid pending legislative action and possible future increases in retirement contribution rates; board members discussed timing for an operating levy renewal and capital roofing work for the summer.
The Troy School District Board of Education reviewed a five-year financial forecast and discussed potential impacts from proposed state changes, retirement-system cost pressures and local levy timing.
The most detailed portion of the meeting was a presentation of the forecast, during which the financial presenter said the district used a conservative approach given uncertainty in pending state legislation. "With the governor's proposal, his proposal with cost estimates received there, if that was to be approved as presented, we could potentially see upwards to $2,200,000 less over the next biennial budget," the presenter said. The presenter added the district had instead kept state-aid estimates "pretty well flat" while awaiting action in the Ohio legislature.
The forecast presentation explained the district is…
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