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Fremont City Board approves May five-year forecast; treasurer says deficit won’t hit until fifth year
Summary
At a meeting the board approved the district's May five-year forecast. Treasurer Megan Parkers called the projection "positive," said a deficit is not expected until the fifth year, and warned the district is watching state budget actions in Columbus.
Last night the Fremont City Board of Education approved the district's May five-year forecast, Treasurer Megan Parkers said, calling the projection "overall...positive" and saying the district does not expect deficit spending until the fifth year of the forecast.
Parker, who explained the forecast on the district's update from Ross High School, noted that public school districts must submit five-year forecasts to the state of Ohio each May and November. She said the district's revenue estimates are conservative because the state is in the process of finalizing a new biennial budget in Columbus.
"Our top revenue drivers are real estate taxes and state funding," Parker said, and those figures could change as the governor's budget moves through the Ohio House and Senate. She said the legislature's next version is expected in June; an exact date was not specified in the update.
Parker also said expenses are trending upward because of inflation and because the district used federal funds in prior years to cover some costs. "Included in the forecast are transfers out of the general fund into specific funds to save for capital projects and severance to prevent us from having to go to the voters in the future," she said.
The district archived the full presentation at fremontschools.net and on the district's YouTube channel. The board approved the May forecast at its meeting; vote details and any motions or seconding were not specified in the record.
