State releases $3.7M to help cover Youngstown school board costs

COLUMBUS — The state Controlling Board released nearly $3.7 million in the form of a solvency loan today to help the Youngstown City School District cover costs during the current fiscal year.

The funds will come from the Ohio Department of Education, through the state’s School District Solvency Assistance Fund.

But William Johnson, city school district treasurer, said Youngstown hopes it won’t have to take any of the state’s money.

‘We’re trying not to. We’re within a couple hundred thousand dollars of making it,” he said, referring to efforts to balance the 2008-09 budget by June 30.

For the complete story, see Tuesday’s Vindicator and Vindy.com