Saturday, October 24, 2015
YOUNGSTOWN — The Youngstown City School District’s five-year forecast shows a surplus in 2020, but that’s contingent on voters renewing the levy on the November ballot.
The 10.7-mill levy, originally passed in 2008 and renewed in 2012, generates about $5.3 million annually. It costs the owner of a $50,000 home $164 per year,
Renewal means that tax rate will continue for another four years. It doesn’t involve additional money.
Brenda Kimble, school board president, said the district needs the levy renewal to continue to fund operations.
In 2012, the district’s five-year forecast showed a $48 million deficit by 2017.
“For various reasons, that didn’t happen,” said Treasurer James Reinhard. “Based on the most recent five-year forecast we have a significant surplus through 2020. It puts the district in a position where they aren’t living from paycheck to paycheck and in a constant mode of facing fiscal watch or fiscal emergency, looking for ways to cut back on programs and so forth.”
For the complete story, read Sunday's Vindicator and Vindy.com