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Financial Trend Not Reassuring

During a recent discussion of how the state calculates support for public education in Ohio, members of the Indian Creek School District Board of Education heard a worrisome prediction on their own finances.

District Treasurer Denise Todoroff explained her five-year financial forecast to board members. She said the district should end the current year with $2 million on hand. Next year, that drops to $1.4 million. By the end of fiscal 2023, the amount is expected to decline to $600,000.

There is no reason for immediate concern, but the trend clearly is negative. At some point, perhaps by fiscal 2024, the district may have trouble balancing its budget.

Any number of factors, including the level of state support, could change that. So could circumstances such as growth in the local economy that, in turn, pumps more money into public schools.

Still, board members need to keep a close eye on finances during the next couple of years. If they follow the trend outlined by Todoroff, long-range plans may necessitate adjustments in spending. Better to be able to make them over a period of years while there is no need for emergency action than to be forced to react to a fiscal crisis.

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