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Yellow Springs Exempted Village school board weighs renewing emergency levies as forecast shows near-term shortfall
Summary
Board members reviewed an updated five-year forecast that shows slower-than-expected income-tax collections and a roughly $900,000 shortfall next year, prompting discussion of renewing two emergency levies and whether to place measures on this fall's ballot.
The Yellow Springs Exempted Village school board reviewed an updated five-year financial forecast and was warned that income-tax collections are running well below earlier expectations, leaving the district roughly $900,000 short next year.
During a detailed presentation, the district's finance presenter said the first-quarter income-tax receipts were lower than anticipated and that tax collections can take several years to fully materialize. “Income taxes come in slow,” the presenter said, adding that, based on current collections, “we're about $900,000 short next year.”
The presenter highlighted forecast lines board members should watch—cash balance (line 7.02) and levy-related entries (line 15.01)—and explained the…
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