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Treasurer warns of $23M variance as APS presses voters on Issue 27; board approves September financial report
Summary
Treasure Dr. Thompson told the board revenues may be nearly $4.0M above the May forecast but expenditures are tracking about $23.0M higher, driven by substitutes, ESSER cliff impacts, repairs and textbook adoptions; the board approved the September financial report 7–0.
Treasurer Doctor Thompson presented an updated view of Akron Public Schools' finances on Oct. 21, saying the district expects nearly $4.0 million in additional revenue compared with the May 2024 forecast but also faces roughly $23.0 million in higher-than-expected expenditures.
"We believe that we'll hit almost $4,000,000 in additional revenue," Thompson said, attributing the upside to stronger-than-forecast real-estate tax receipts and state aid. He warned, however, that "our expenditures are trending $23,000,000 higher…
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