Boardman schools' financial forecast brighter with levy, CFO says
With the recent passage of a 5.8-mill emergency levy, Boardman School District’s five-year financial forecast avoids the sharp cuts the district discussed at a community meeting earlier this year.
“I feel a lot better now than I did two weeks ago,” said Nicholas Ciarniello, the district’s treasurer and chief financial officer.
Ciarniello presented a draft version of the five-year forecast to the school board at a special meeting Thursday.
With the additional $4.9 million generated by the levy, Ciarniello forecasted a positive cash balance through June 2022.
The levy helped the district weather the phase out of reimbursements from the discontinued tangible personal properties tax, a decrease in state funding and a near $1 million payment to Mercy Health.
The levy’s passage prevented the need to resort to “Plan B,” which would have led to $1 million in budget cuts, including eliminating 12 teaching positions.
Read more about the situation in Friday's Vindicator or on Vindy.com.