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Milford board approves five‑year forecast after finance director flags $12M‑plus deficit projection
Summary
The Milford Exempted Village Board approved an amended five‑year forecast after a finance presentation showing positive ending fund balances but ongoing deficit spending; administration highlighted salary/benefits as 78% of expenditures and noted new reporting requirements under Ohio House Bill 96.
Doug, the district finance presenter, told the Milford Exempted Village Board on Sept. 18 that the district’s cash reconciliation and investment reports are solid and that local investment earnings totaled about $600,000 year to date for August. He then walked the board through the district’s five‑year forecast, noting that while ending fund balances remain positive, the district is projecting continued deficit spending in the coming years.
Doug said the current modeling shows roughly a $12 million shortfall in the projection horizon but stressed the forecast has improved…
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