Madison Local board approves deficit-reduction plan after state flags three-year shortfalls

Madison Local Board of Education voted unanimously Nov. 18 to approve a written deficit-reduction plan after a review by the Ohio Department of Education and Workforce found projected deficits in each of the next three forecast years.

Christopher Wright, a fiscal consultant with the Department of Education and Workforce, told the board the department examined the district's Oct. 13 forecast and found negative balances on key forecast lines, which triggered a notification letter issued Oct. 22 and a requirement that the district produce a written plan by Dec. 21 to avoid escalation to fiscal oversight. "In this case, all 3 years are projecting deficits," Wright said during the presentation, noting the department flags districts for precaution when the first projected years show shortfalls.

The plan approved by the board is the current-year package the administration says will eliminate the immediate year 1 deficit. Wright and his colleagues…