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Articles About budget deficit
On Oct. 6 Village Council began its annual series of budget planning workshops with a sober look at the second year of deficit spending in the general fund.
At a special budget review before the Feb. 18 Village Council meeting, Finance Director Melissa Vanzant projected that the Village 2014 general fund budget will have a shortfall of about $500,000.
In these difficult economic times, it’s a familiar story for states and municipalities: while revenues are falling, costs are rising. And that’s the story again this year for the Village of Yellow Springs.
According to former Governor Strickland’s Evidence-Based funding model, the local school district is scheduled to receive $1,037,354 from the state to educate its 621 in-district students this year.
There was an “elephant in the room” at the June 17 emergency Committee of the Whole school board meeting to discuss the district’s financial shortfall, according to villager Rachel McKinley.
The Yellow Springs school district budget deficit is bigger and increasing faster than expected, according to Superintendent Tony Armocida at the school board meeting on Thursday, June 10.