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Little Miami treasurer warns of growing deficits and says renewal levy is critical to avoid sharp cash shortfalls
Summary
At an Oct. 6 special meeting, the Little Miami School Board heard an October financial forecast showing a roughly $911,000 current-year operating deficit and projected larger shortfalls; the treasurer said a renewal levy passed in 2011 supplies pivotal revenue and that pending state legislative changes could reduce receipts further.
The Little Miami School Board on Oct. 6 heard an October financial forecast that showed the district is operating at a current-year deficit and faces increasing shortfalls without continued levy revenue.
The treasurer/CFO, presenting the district’s October update to the financial forecast, told the board the district is “operating current year at a deficit, of about less than 1,000,000, about 911,000” and that projected deficits grow across the forecast horizon. She said the submission is the district’s online 23-page forecast summary and warned state legislative changes could alter assumptions.
Why it matters: Little Miami’s finances rely heavily on a renewal levy passed in 2011 that supplies…
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