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Monroe Schools Understates General Fund by $1.35 Million
Wednesday, September 28, 2011 11:47:37 AM - Monroe Ohio

by John Beagle

Dean Horton, Ohio Department of Education, Fiscal Consultant reviews 2012 and 2013 forecasts. Both result in negative general fund balances. In 2012, Dean is forecasting Monroe Local Schools to spend $491K more than than revenues. By 2013 the forecast is $766K more spending than revenues.

In addition there is more bad news. $1.35 Million was 'mis-posted' in the 'Bond Retirement Fund" that should have been posted to the General Fund.

Here is a shared spreadsheet link that goes with the above presentation: Monroe Local -SM5 Source: Ken Ulm

The graph below contrasts the original forecast from the MLS Treasurer Kelley Thorpe with the revised version by Mr. Dean Horton. It was this revision that caused the school to be recognized as a district that fits the criteria for fiscal caution. Unless major sources of revenue and or sources of cost cuts is found, Monroe Local Schools likely will be put into fiscal watch in January of 2012.

Discuss it on the Voice: Monroe Schools to Begin Fiscal Caution

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