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Treasurer warns of near‑term deficit and state‑level risks as board amends appropriations
Summary
Treasurer Patrick Gallano presented a five‑year forecast citing House Bill 96 and other pending property‑tax proposals as risks to local funding, reported a projected FY26 deficit of roughly $600,000 (October forecast) versus a May cash position, and the board approved an amendment to appropriations to align with the current forecast.
The Stow‑Munroe Falls City School District board on Oct. 14 approved an amendment to fiscal‑year 2026 appropriations after Treasurer Patrick Gallano presented an updated five‑year forecast that showed a tightening cash position and several significant state and federal risks.
Gallano told the board the October forecast projects a roughly $619,845 deficit for the current year (a swing of about $1.3 million to $1.4 million compared with the May forecast), driven by higher purchase‑service costs (including utilities and contractor substitutes), rising substitute and…
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