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Canfield Local board hears five‑year forecast showing $1.5M projected deficit in FY2026
Summary
Treasurer presented a five‑year forecast projecting a roughly $1.5 million deficit for fiscal year 2026, warning that revenues growing at about 1.4% annually lag expenditures projected at about 2.8% and that board policy requires planning if days‑of‑cash falls below 60 days.
The Canfield Local School District board on Feb. 11 heard a five‑year financial forecast showing the district’s general fund balance falling from about $13.1 million on July 1 to roughly $11.6 million on June 30, 2026 — a projected deficit of about $1.5 million for the fiscal year.
Treasurer Mister Marco presented the forecast and emphasized that the gap between revenue and expenses is widening: "we look to have about $11,600,000 in the general fund on 06/30/2026," he said, adding that expenditures are growing faster than revenues. Marco told the board the presentation assumes expenditures rising roughly 2.8% per year while revenue has averaged about a 1.4% annual increase over the past decade.
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