Struthers schools treasurer warns of deficit if levy fails

STRUTHERS

Struthers Board of Education has approved a five-year financial forecast to be submitted to the Ohio Board of Education.

A report prepared by district Treasurer Arthur Ginnetti, describes a “positive but guarded financial future,” with positive cash balances through fiscal year 2018. The report identifies concerns including “over-dependence upon grants and state entitlements,” relying on property taxes from a “low-wealth” tax base and rising health care costs.

“We’re in a solid place, financially,” Ginnetti said during a board meeting Tuesday evening. “But we do need this levy renewal.”

Struthers residents will vote this November on whether to renew an existing 6.9-mill operating levy for another five years. If the renewal fails, the forecast predicts a budget deficit beginning in fiscal year 2018.

For details on the situation, read Wednesday's Vindicator or Vindy.com.