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Mentor district narrows projected shortfall; board schedules special meeting to map levy and cuts
Summary
CFO reported the district reduced a projected revenue loss to about $414,000 and is $321,000 better than an October forecast; the board scheduled a special Dec. 15 meeting to consider levy options and 'doomsday' reduction scenarios if a May levy fails.
District finance officials told the board Dec. 9 that they have narrowed an earlier projected shortfall and will meet Dec. 15 to plan levy scenarios and potential cuts.
Chief financial staff said the district had reduced a previously noted revenue loss of about $1.1 million to roughly $414,000, in part through asset sales and delayed receipts. The CFO said the district is roughly $321,000 better than the October forecast and that, at an $114 million scale…
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