Kings Treasurer Updates Five-Year Forecast
Kings Treasurer Mike Morrow updated the Kings Board of Education on the Five-Year Financial Forecast at the May 9 Board Work Session. The Five-Year Forecast outlines expected revenues and expenses for this school year and the following four years.
District finances have greatly improved since the community supported the operating levy in November 2022. However, the district still faces financial challenges due to inadequate state funding and rising costs. A few highlights from the forecast presentation include:
- District spending per student is lower than the state average while performance rankings show Kings is in the top 7% of schools in Ohio.
- The district cash balance remains low. 93% of school districts in Ohio have more cash when compared to spending.
- Little revenue growth and rising costs include personnel-based costs, contracted services such as transportation, and inflationary pressure.
Treasurer Mike Morrow and Superintendent Greg Sears are committed to being fiscally responsible and advocating for additional state funding. They have held community forums and are working collaboratively on long-range financial planning and state funding advocacy.