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McDonald board OKs levy reduction
McDONALD
The village school board Monday approved the reduction of a 10.75-mill, five-year emergency levy passed May 3 to approximately 7.25 mills.
It reduced the amount of the original $580,000 levy by $189,000. The total collection for the levy will be $391,000 annually. The district was able to cut the levy because it is receiving an additional $540,000 in State Foundation money for the 2011-12 school year. The reduction in funds to be collected has been certified by the county auditor.
The board also approved a new five-year forecast, which had been approved Aug. 24 by the State Finance and Planning Commission, which oversees the district because it is still in state fiscal emergency.
The district has asked Ohio Department of Education to begin the process of removing it from fiscal emergency.
The new forecast shows the district with balances through 2016. A balance of $316,209 is expected in 2012, $840,466 in 2013, $1.123 million in 2014, $1.138 million in 2015 and $1.066 million in 2016
In other business, the board approved a five-year heating, ventilation and air-conditioning maintenance agreement with Gardiner Trane Co. of Solon for the high school at a cost of $4,164 a year.