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Madison Local board approves FY26 forecast and state-mandated reduction plan after treasurer reports $1.6M shortfall
Summary
The board approved an updated FY26 financial forecast and a multi-part reduction plan required by the state after the treasurer reported a projected $1.6 million operating deficit this year and ongoing state-funding reductions.
The Madison Local Schools board on Feb. 17 approved an updated fiscal-2026 forecast and a state-required reduction plan after the district’s finance staff presented projections showing a $1.6 million operating deficit for the year.
Steve, the district treasurer, told the board that revenues for the fiscal year are projected at about $29.8 million and would reach roughly $30.6 million by fiscal 2030, while expenditures fall from about $31.4 million to $29.5 million next year because of planned reductions. "We're showing a debt operating…
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