Though Ohio school law requires all public schools’ district treasurers to report a five-year projection to the state in May, many, such as Randy Betram at Middletown schools, are making their presentations to school boards with a big caveat.
Until the Ohio Senate and House work out a budget by June 30, all financial projections for school systems are tentative because the largest portion of funding comes from the state for m most districts and those amounts for the next two fiscal years are still unknown.
“A lot can happen between now and June 30,” Betram told the Middle school board members during Monday evening’s meeting.
Betram said overall the city school district is in solid financial shape with a $75 million operating budget that includes cash surpluses – though diminishing – during each of the next two fiscal years.
Middletown Schools now receive about $29 million annual in state funding.
Betram said, however, the current version of the latest biennium budget “is disheartening.”
Under the school funding formula being proposed to the Senate are reductions in funds for Middletown Schools.
“We are doing backwards instead of forward,” he said.
In Ohio public school treasurers are required to report five-year projections to the Ohio Department of Education and the Ohio Auditor’s office twice each year in May and October.
Such projections are problematic as there are many unknown variables besides the state’s unpredictable budget legislative process, including overall estimating local and national economic fluctuations.
“I really don’t have good information to give you a forecast but I’ll tell you what I know to date,” said Betram.
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