Lakeview to put tax levy on ballot

The state is looking at
fiscal caution for Lakeview schools.

By ERIC GROSSO

VINDICATOR CORRESPONDENT

CORTLAND — Lakeview Board of Education voted Monday to place an emergency tax levy on the March 4, 2008, ballot, hoping to eliminate a projected budget deficit for the 2008-09 school year.

The 7.5-mill levy would bring in $2 million annually if approved by district voters.

The district has a projected $900,000 deficit for the 2008-09 school year, according to Treasurer Milton Williams.

Because of the deficit, the district is expected to be placed in fiscal caution, the first of three levels of financial watch identified by the state of Ohio.

A tax levy hasn’t been passed in the district since 2005. Lakeview currently has the third lowest millage rate of any district in Trumbull County at 42.8 total mills, school officials said.

Earlier this month, Superintendent Robert Wilson said personnel cuts will be made in the future, but he did not have any specific plans available. The district also plans to limit spending, including not allocating money for supplies, field trips and other items.

Wilson noted a big reason for the deficit was a reduction in property valuation throughout the community.

In November, the Trumbull County Auditor’s office valued all properties located in the district at just more than $300 million, but now projects the worth to be just under $275 million.

Wilson said the 8.5 percent drop in valuation was a “big reason for the district’s financial shortfalls.”

Specifically, Kmart and Delphi Packard distribution plants in Cortland and Bazetta Township accounted for the district’s largest loss, nearly $300,000 in property tax payments.

The loss wipes out a once-projected carry-over of $300,000. The district has a current-year budget of $16 million.

The district began working on an impact plan in November and will continue to work on the plan in the coming months, Wilson said.