City schools get 5-year forecast
Marietta City Schools Treasurer Frank Antill presented the district’s five-year financial forecast during Monday night’s regular board of education meeting.
For fiscal year 2017, the district is expected to end its year with a surplus revenue of $386,788 but is forecast to go into deficit spending by fiscal year 2018.
“We projected $370,000 in excess revenues in October and now this is showing $380,000 in excess so we are right on pace with what was projected six months ago,” said Antill. “This data is based on the latest House Bill numbers with how much we are looking to lose if the state budget passes as is right now.”
In fiscal year 2018, the district is forecasting $224,350 in deficit spending. The deficit spending trend will then carry on into fiscal years 2019, 2020 and 2021.
“It is what it is and we will find out in about 30 days what we are losing once the budget process ends,” said Antill. “When that happens then we will begin adjusting the forecast. There’s going to be a reduction, we just don’t know exactly how much.”
If Ohio Gov. John Kasich’s budget passes as is, Marietta City Schools would lose $289,679 in state funding for fiscal year 2018.
“We need this budget to finalize so we know exactly what we need to do,” said Antill.
Fiscal year 2019 has deficit spending forecast at $485,294, while the following year the district is predicting deficit spending at $679,705. In fiscal year 2020, the district is projecting $996,185 in deficit spending.
“We need to begin to investigate our best options for saving money and presenting them to the public,” said board member Zane Lazer. “Whether it’s cutting staff or consolidating schools, the board needs to worry about that.”
The state budget for fiscal year 2018 must be passed by July 1.
In other news, Harmar Elementary School Principal Cheryl Cook thanked Superintendent Will Hampton and the Total Response Team for helping Harmar through the death of Title 1 teacher Terrie Bain last week.
“Terrie spent 14 years at Harmar and became not only a valued colleague but a great friend to us,” she said. “You all were there Tuesday and back on Wednesday making a very hard task a little easier. Now we just continue to share memories we had with Terrie and live on in memory of her.”
If you go
The next regular board of education meeting for Marietta City Schools will be on June 23 at 5:30 p.m. in the Administration Building.