Youngstown board ponders way to balance general fund budget

YOUNGSTOWN — The Youngstown City School District treasurer said the district may have to delay payments into its workers’ compensation and health care self-insurance fund by a month to balance this year’s general fund budget.

Youngstown already has borrowed $5.2 million from its own school building bond fund and another $3 million from the state solvency loan fund to make ends meet for fiscal 2009 which ends June 30.

Treasurer Bill Johnson’s financial forecast presented to the city school board today shows that should leave the district with a fund balance of slightly more than $2 million, but a delay in receiving state Homestead Tax break reimbursement funds could make it difficult to still end the year in the black.

For the complete story, see Wednesday’s Vindicator and