Loading…
Tuesday, July 22, 2014
Current Weather
Loading Current Weather....
Published: Wednesday, 10/2/2002

Perrysburg City Schools nearing deficit spending

No deficit is predicted for Perrysburg City Schools for the next fiscal year, but unless voters approve a levy, the district will have an ending cash balance of less than $10,000 in 2003, school officials said.

Based on a five-year spending plan for 2002-2006 presented to the school board by Treasurer Fredric Barba, total projected revenue for 2003 is $28,701,000. Projected expenditures total $29,790,000. With a carryover of about $1 million, that leaves an ending cash balance of $6,970.

Following the meeting, during which the board unanimously approved the budget, Mr. Barba said that to avoid a deficit in 2003 “all the revenue estimates have to hold.”

He noted that the 2003 budget reflects money-saving cuts made by the board. Expenses projected for 2003 are $2.6 million below 2002.

Cutbacks in transportation will go into effect Nov. 11 unless voters approve the two-year 5.9-mill emergency levy.

Without passage of a levy, the school district is facing a projected deficit of $1.4 million in 2004; $3.4 million in 2005, and $5.8 million in 2006, based on the five-year spending plan, officials reported.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.