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Treasurer warns of widening shortfall; board shown levy options to shore up district finances
Summary
Treasurer Kent Zeman told the board the district projects expenditures will exceed revenues by $4.5 million in fiscal 2026 and presented levy scenarios (5.9, 6.9, 7.9 mills) and timing options that affect the projected 'days cash' and when a levy would next be required.
Treasurer Kent Zeman told the Lakewood City Board of Education on Dec. 1 that the district’s financial forecast shows expenditures exceeding revenues and sketched several levy options to address the shortfall.
"In fiscal year 2026 ... expenditures are exceeding revenues by $4,500,000," Zeman said during his presentation, noting fiscal 2025 was the first year since the district’s 2020 levy in which expenditures outpaced revenues (just under $2 million). He said 63% of general‑fund revenue comes from local property taxes and 27% from the state, and reiterated the district’s…
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