Letter requests plan to address projected Edison deficit
Nov 30, 2012 at 3:26 PM
The state has sent a letter to the Edison Local School District requesting that officials put together a plan to correct the projected $891,000 deficit in fiscal year 2014.
"Your district's current five-year forecast projects a negative unreserved fund balance exceeding 2 percent of revenue beginning in Fiscal Year 2014," the letter from the state reads. "The Ohio Department of Education is required, under Section 5705.391 of the Ohio Revised Code, to immediately notify the district and the Auditor of State of the potential deficit."
A story about how the district plans to respond, and other financial matters, was published in the Reflector.