TPS budget deficit: How did it get so deep?
Tue, 09 Mar 2010 22:18:59 GMT —
T he Toledo Public School District is facing a $30 million budget shortfall.
NBC24 did a little Fact Finding to find out how that number got so high.
TPS T reasurer Dan Romano tells NBC24 that the district had been projecting a deficit of about $17 million. Romano says the district simply knew it was almost time to go to taxpayers for more money. He says TPS taxpayers had not been asked for additional money since 2001.
But shortly after those projections, t he state budget cut the district's funding by an additional $8 million. And the district learned they would lose another $7 million because of personal property tax reductions.
"When we look at over the two year period, $15 million being reduced out of funding to the district, that's a pretty sizable hit," said Romano.
Romano says, even with some adjustments, if you a dd that to local revenue shortfalls of about $3 million, the district is facing a big challenge.
"T he deficit grew from $17 million to $30 million I think as a trickle-down from an impact at the state level down to most government entities," said Romano.
But Romano says if a tax is passed, the district should be in much better shape for years to come.
"When we looked at what we needed it wasn't only just looking at the $30 million but what was the outlook for the 2012, the 2013, the 2014 and so on," said Romano.
Toledo Public Schools has set up a new email address which anyone is welcome to use to send in opinions about the budget. Send your thoughts to email@example.com