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Treasurer warns of short-term deficit and new state overtime reporting rules that will complicate payroll
Summary
Treasurer Randy reported a forecasted $400,000 shortfall for the year and told the board a state change that reduces taxable overtime will require new W-2 reporting; current overtime tracking (based on paid status rather than hours) and financial software limitations mean the district may need manual processes or additional staffing to comply.
PERRYSBURG, Ohio — The Perrysburg Exempted Village Schools treasurer told the board on Dec. 15 that the district is on a predictable year-to-date trend but is forecasting a roughly $400,000 deficit for the current fiscal year and faces a looming payroll-reporting challenge tied to recent state legislation.
Treasurer Randy reported the district currently has about 121 true cash days and year-to-date revenue and expense trends consistent with expectations: revenue down about 13.5% and expenses down about 8% after…
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