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By M.A. Ferguson-Rich
Special to the Beacon Journal
POSTED: 05:00 p.m. EDT, May 04, 2009
STOW: The Stow-Munroe Falls school board is renewing its contract for nursing services with Akron Children's Hospital for the 2009-10 school year.
The hospital will receive $182,836 and has waived a 3 percent increase. Superintendent Russell Jones said the hospital was aware of budget reductions in the district and responded by forgoing the increase.
Treasurer Catherine Bulgrin presented a five-year forecast. Although it appears the district will complete the 2009 fiscal year in the black, there is a projected deficit of more than $4 million by the end of fiscal year 2011 and more than $15 million by the end of 2013, according to the forecast.
Bulgrin cited such factors as declining property tax revenue, expiring tax levies, the phasing out of the tangible personal property tax and refunds to taxpayers who successfully challenged their property valuations.
She said the district enacted another round of reductions totaling $1.2 million on April 16. Even with these cuts, flat revenue from the state, combined with increases in operating costs, will bring about deficits by 2011.
The district does not have a levy increase on today's ballot and is seeking input from area leaders to deal with its financial situation.
In other business, four high school students qualified to travel to Birmingham, Ala., on June 13, to participate in a national debate tournament. The board approved the trip, which will cost about $6,000. Fundraising is planned to help defray the costs.
STOW: The Stow-Munroe Falls school board is renewing its contract for nursing services with Akron Children's Hospital for the 2009-10 school year.
The hospital will receive $182,836 and has waived a 3 percent increase. Superintendent Russell Jones said the hospital was aware of budget reductions in the district and responded by forgoing the increase.
Treasurer Catherine Bulgrin presented a five-year forecast. Although it appears the district will complete the 2009 fiscal year in the black, there is a projected deficit of more than $4 million by the end of fiscal year 2011 and more than $15 million by the end of 2013, according to the forecast.
Bulgrin cited such factors as declining property tax revenue, expiring tax levies, the phasing out of the tangible personal property tax and refunds to taxpayers who successfully challenged their property valuations.
She said the district enacted another round of reductions totaling $1.2 million on April 16. Even with these cuts, flat revenue from the state, combined with increases in operating costs, will bring about deficits by 2011.
The district does not have a levy increase on today's ballot and is seeking input from area leaders to deal with its financial situation.
In other business, four high school students qualified to travel to Birmingham, Ala., on June 13, to participate in a national debate tournament. The board approved the trip, which will cost about $6,000. Fundraising is planned to help defray the costs.
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