As a consequence of the Coronavirus Pandemic, our district received a $288,082 state funding cut for the current fiscal year, which ends on June 30th. It is unknown at this time what the state funding cuts will be going forward into fiscal year 20-21 and beyond. Additionally, our revenue from property taxes will likely be reduced due to delinquencies.
We are required to submit a 5 year forecast to the Ohio Department of Education in May and November. The 5 year forecast I am submitting includes cuts for next year equal to the $288,082 reduction we received this year. There are also two additional scenarios at the back of the forecast report that show what will happen if the reductions are double ($576,164) and triple ($864,246) in 20-21.
At this point, it is unknown what will happen to state funding over the next few years. As we receive information, I will be updating the forecast and will keep the board updated. As always, if there are any questions regarding the forecast, please email or call me.
FIVE YEAR FORECAST FINANCIAL REPORT