HOWARD — The Ohio Department of Education notified East Knox Local Schools last week that the school system will be placed in Fiscal Caution effective Tuesday.
ODE declares a fiscal caution if a school district’s financial forecast shows a deficit of 2 percent to 8 percent of the prior year’s general fund revenue. Treasurer Jessi Busenburg forecast that East Knox will finish the 2012-13 school year over $200,000 in red ink, according to June 30 updates to the May 2012 budget forecast. That is a 4 percent deficit. This deficit is expected to grow to over $1.5 million in 2013-14, or 17 percent.
East Knox must submit a proposal to ODE by Nov. 4 outlining how the district will address these deficits.
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