fiscal forecast

fiscal forecast

Youngstown city schools

The Ohio Auditor of State’s office has prepared a 2008-09 general fund budget forecast for the city schools, showing the district will likely end the year with a deficit of more than $10 million. Key parts of the forecast (with last year’s actual figures in parentheses) show:

REVENUE

General property tax: $15,836,000 ($16,281,000).

Tangible personal property tax: $2,124,000 ($3,183,000).

Unrestricted state aid: $66,695,000 ($64,754,000).

Restricted state aid: $14,129,000 ($13,729,000).

State property tax adjustments: $4,997,000 ($4,729,000).

EXPENDITURES

Employee salaries: $45,767,000 ($50,845,000).

Employee benefits: $19,485,000 ($20,417,000).

Purchased services (including tuition to other schools): $35,832,000 ($35,613,000).

State solvency loan payment: $12,703,000 ($7,512,000).

Source: Ohio Auditor of State