The Toledo Board of Education is to vote this month on placing a renewal levy on the November ballot.
Toledo Public Schools administrators presented members of the board’s finance committee Wednesday with formal resolutions to place the district’s five-year, 6.5-mill levy before voters Nov. 5.
That levy generates about $13 million a year for the district, and was approved by voters in 2008 with about 61 percent of the vote.
Finance committee members said they will recommend passage of the resolutions at the board’s regular meeting on June 25.
And TPS officials said staff from the Lucas County Auditor’s office are to be on hand to certify tax levy valuations and the amount a renewed levy would generate.
In this campaign, Toledo Public leaders would hope to reverse their fortunes at the ballot box.
The district had a new 4.9-mill, 10-year levy on the November ballot that would have generated $13.3 million annually, but voters rejected it by a margin of 52.45 percent to 47.55 percent.
It was the latest in a string of failures for TPS levies.
Renewal levies for Ohio schools pass at higher rates than requests for additional money.
Last year’s election failure didn’t require immediate cuts at TPS because the district’s budget was balanced.
But Toledo Public’s projections show the district will eat through its fund balance next fiscal year, and run out of cash in fiscal year 2015.
That, district Treasurer Matt Cleland said, is even if the renewal passes and with an increase in state funds.
Failure of either to materialize would place the district in immediate financial difficulty.
Based on district budget forecasts, even if all cost savings recommended in a recent performance audit were enacted, the district would face deficits in coming years.
“With all these things hanging out there, that potentially can negatively affect us,” Mr. Cleland said. “It's critical that we continue to receive the local support on revenue.”
Romules Durant, Toledo Public’s assistant superintendent and pending interim superintendent, will lead the levy campaign.
A levy this year would coincide with elections for school board members. Terms for board President Brenda Hill and board members Larry Sykes and Bob Vasquez are up this year.
Contact Nolan Rosenkrans at: email@example.com or 419-724-6086, or on Twitter @NolanRosenkrans.