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

Madison — The Madison Local Board of Education unanimously approved a written deficit-reduction plan on Nov. 18 after state fiscal consultants told the board the district’s October financial forecast projects deficits in the current year and the first two forecast years.

Christopher Wright, a fiscal consultant with the Ohio Department of Education and Workforce, and Kim Richard, assistant administrator in the department’s budget and school funding office, told the board the forecast filed Oct. 13 showed negative balances and that the district received a notification letter on Oct. 22 requiring a written plan. "As you can see, they're red and they're negative, so those are projected deficits," Wright said during the presentation. Richard added the district was "one of the two in the entire state" flagged for a current-year deficit in that submission period.

The department explained the written plan must be approved by the local board and submitted to the department by Dec. 21, 2025, unless the district requests and is granted an extension. The…