OTTOVILLE — School board members were briefed on the district’s five-year forecast by Ottoville Local School Treasurer Bob Weber Tuesday evening.
Weber has “guess”timated the district’s finances through 2017 with ending balances of $3,417,156 on June 30, 2013; $3,312,178 on June 30, 2014; $2,982,898 on June 30, 2015; $2,472,172 on June 30, 2016; and $1,751,144 on June 30, 2017.
“We do see about a 50-percent reduction on the ending balance from 2013 to 2017,” Weber said. “These are just estimates and we, like most districts, are very cautious when adding in state funding. It has been decreased every year; we just don’t know by how much. There are a lot a variables and state funding is about 50 percent of our budget. We haven’t seen Kasich’s next budget and the Presidential Election outcome could affect school funding as well. I reduced it by 3 percent each year for the last four years of the forecast.”
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