Streetsboro City Schools received the following notification from the Ohio Department of Education last week in response to its projected forecasted budget.
Ohio Revised Code 5705.391 requires the Ohio Department of Education to determine if a school district has the potential to incur a deficit during the first years of the five-year forecast period. The Department examined the district’s October 2018 five-year forecast submission and found forecasted deficits in FY2020.
The statute requires districts reporting a deficit in the current fiscal year to take immediate actions to eliminate the deficit. It also requires the Department to notify the district and the Ohio Auditor of State that a potential for deficit exists. This letter serves as the required notification.