Costs, But Not Revenue, Expected to Increase in the School District

Financial issues were the focus of much of the in the district’s .

The board received an update on the district’s five-year financial forecast. The document is approved and sent to the state in the fall and each year, said Chief Financial Officer/Treasurer Karen E. Obratil.

The forecast is just a projection and can be affected by many factors. For example, the forecast doesn’t account for any change in staffing levels or the failure of any renewal levies or passage of any new levies.

According to the most recent forecast, the district can expect to have a negative cash balance in fiscal year 2014 – and keep building up a deficit after that.

That’s because costs for the district are expected to increase, but revenue is not, Obratil said.

Members also heard a brief overview of the most recent report from FACT—the Financial Activities Communication Team—and approved a contract with infosnap that will help the district save money by collecting and processing information from parents online, rather than using paper.

For more details on these issues, check Brecksville Patch later today.