Toledo Public Schools are still out for summer but the district is in the spotlight, again this week, this time for a good reason.
On Thursday, TPS officials announced that they operated well under budget in the last fiscal year.
"The fund balance we've determined to be approximately $8.5 million more than we had last projected in the 5-year forecast,â?? TPS Treasurer Matt Cleland said.
Cleland and TPS Superintendent Dr. Jerome Pecko were quick to note, during a joint press conference, that the money is not "extra cash" but was saved through conservative spending and careful planning.
The pair credited fewer students leaving the district, the school's implementation of combining elementary and middle schools along with the concessions made by TPS teachers as the reasons for the unexpected surplus.
The news could now mean a reduction in the levy TPS will put before tax payers this fall.
Earlier this year the TPS Board of Education approved a measure to place a 6.9 mil levy on the November ballot.
On Friday, Cleland is expected to recommend that the levy be reduced.