Projections put TPS in the black through 2016 - News, Weather, Sports, Toledo, OH

Projections put TPS in the black through 2016

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TOLEDO, OH (Toledo News Now) -

Just one dayafter the school board votedto put a levy on the November ballot, the district's treasurer gave thepublic a look at Toledo Public Schools' books.

School leaders say the meeting would have been held withor without the decision to put the levy on the ballot. They say they want thepublic to understand how the district pays its bills.

Treasurer Matt Cleland says thedistrict will be able to balance the budget without making any more cuts for acouple years, but projections show that will change in 2016. At that point,Cleland projects expenditures will overtake revenues, forcing the district tomake cuts.

Cleland says voters should consider the district's pastfinancial responsibility when evaluating the upcoming levy.

"A positive fund balance has been maintained by the schooldistrict. We've always had a positive balance at the end of the year. That isimportant to know because you want to know that the organization that's makinguse of taxpayer dollars is fiscally responsible and prudent," said Toledo PublicSchools Treasurer Matt Cleland.

Cleland says the district has balanced its budget each yearbecause of sacrifices made by staff members and cuts to things liketransportation.

A five year forecast of the district's finances is available online here: http://www.tps.org/boe/boarddocs

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Mobile users, click on the "video" button in the app to watch this story. Download our app here.

Copyright 2014 Toledo News Now. All rights reserved.

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