Treasurer’s Five-Year Forecast to the Board

Budget Reflects Sound Stewardship
Posted on 05/29/2019
Image of GavelMeeting on Tuesday afternoon, May 28, many members of the Akron School Board were enthusiastically anticipating what was to come after the meeting. Some board members had plans to join students and families at graduation ceremonies Tuesday evening for East and Firestone community learning centers.

In the business of the meeting, the board heard some good news from CFO Ryan Pendleton who delivered his five-year economic forecast for Akron Public Schools. Most promising was news of a $526,000 budget surplus this year that was a pleasant surprise to board members who had expected Pendleton to detail the previously projected $1.5 million deficit.

“We have had encouraging numbers in our health care costs, thanks in part to our new affiliation with Paladina Health. That has not only helped with some of our costs, but it has also given our employees greater access to health care, keeping our staff healthier,” Pendleton explained as he told the board what led to the surplus this year.”

Also, belt tightening, consolidation and wise fiscal management have forestalled the expected deficit for another year. But, Pendleton told the school board his projections for the coming year include a deficit of about $3 million; that increases to more than $20 million by the year 2023.

Board President the Rev. Curtis T. Walker, Sr. mentioned the inevitability of a levy in the future. “We’re not sure just when that might be, but we’re certain we’ll need one. Most school systems average a levy proposal every two to four years. We haven’t gone to voters now in nearly seven years.”
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