(Pickerington LSD) Griscom Finances should be OK until 2014 - Other Community News - Ohioans for Responsible Rural Development

ThisWeek Community News
Published October 12, 2011

By Scott Gerfen

The Pickerington Local School District likely won't have to ask voters for more money until 2014, according to a five-year forecast.

Treasurer Dan Griscom detailed the best estimate of revenues and expenditures for a general operating fund, which remains dependent on shrinking state money, he told school board members Oct. 10.

School districts are required by law to file the forecast twice a year with the Ohio Department of Education.

"We would hope to push it out further than 2014, but it all depends on what we see with our state funding," Griscom said. "This year, we know what we're getting. But even next year, we don't know because the school-funding formula is under revision. I hope to hear something later this month."

Expenditures for fiscal year 2012 are predicted to be $90,212,480, which is less than the district spent in 2009. Revenues are estimated at $93,113,108.

A deficit of roughly $1.5 million is predicted for fiscal year 2014.

The district will have enough money to balance the books this year after the board approved $13 million in cuts, which included laying off 82 teachers and 43 other staff members.

Voters on Aug. 2 approved a 5.5-mill operating levy, which is expected to generate about $5.95 million per year beginning in January 2012. It will cost property owners $168.44 for every $100,000 of assessed property valuation.

Read the full story at ThisWeekNews.com.