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District finance staff warns of multi-year deficits as property-tax rules shift
Summary
Warren City School District finance staff presented a three-year fiscal forecast showing a projected $3.3 million gap this year, a falling state share of base funding and potential multi-million-dollar losses if county homestead/owner-occupied credits expand under new law.
Warren City — District finance staff told the Warren City School Board on Feb. 24 that the district faces a multi-year fiscal squeeze driven by flat local revenue, shrinking state aid and changes in property-tax law.
"Our revenues have been very flat and have actually decreased in some areas and will continue to decrease," said the district finance staff member who presented the three-year forecast. The presentation listed a general-fund beginning balance of $31,700,000, projected annual revenues of about $75,000,004 and projected expenditures of about $78,700,000, producing a projected $3.3 million deficit and a year-end general-fund balance in the neighborhood of $28,000,000.
The presenter told the…
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