Financial forecast brightens for Poland schools
Two years after projecting worrisome deficit spending, Poland Local Schools are expected to end fiscal year 2019 in the black.
In the five-year financial forecast approved Monday, fiscal 2019’s revenue is projected to exceed expenditures by $585,045.
This number is expected to grow slightly once finances for May and June are taken into account.
Two years ago, the district projected a deficit of nearly $7.5 million by fiscal 2021.
On the five-year forecast for May 2019, that number, while still a deficit, is expected to shrink to $265,829.
Improvements can be attributed to the implementation of cost-saving measures and the consolidation of facilities.
The district reduced its spending on personnel services, which account for about half of the district’s general-fund expenditures, from $11,407,875 in FY 2016 to $10,093,086 this year.
In addition, the district closed Dobbins Elementary at the end of the 2017-2018 school year, upon the recommendation of a performance audit conducted by the state auditor.
Read MORE in Tuesday's VINDICATOR.