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Wyoming City Schools forecast shows multi-year operating deficits; board authorizes $15 million interim notes
Summary
District staff presented a five-year general-fund forecast showing projected deficit spending and cash-balance erosion without new revenue; the board certified levy collection to the county auditor and authorized up to $15 million in bond anticipation notes to begin primary facilities work before full bond issuance.
The Wyoming City Schools board heard a presentation on its five-year general-fund forecast and moved to authorize short-term borrowing to begin facilities work after voters approved a bond earlier this fall.
Presenter (the district finance presenter) told the board the forecast, prepared under the Ohio Revised Code, models three primary revenue buckets — real estate taxes (about 41% of general-fund revenue), school district income tax (about 31%) and state funding (about 20%) — and projects ongoing pressure on the district’s cash balance. "We are going to be deficit spending, and we are going to start eating into our cash balance," the Presenter said, adding that if current trends hold the district would likely need an operating levy in 2027.
The…
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