4.2.1.1 Balanced Budget
TO PLACE May 2011 Forecast Here
Stop passing the buck on Cincinnati budget
With the city of Cincinnati facing a $33 million deficit, figuring out how to balance the budget is not somebody’s job, it’s everybody’s job.
This week that job got even more complicated when Cincinnati City Council’s more conservative members voted to hold property tax collection steady.
City manager Milton Dohoney wanted to raise the rate to generate another $3.1 million. Five council members said ‘no.”
(Council woman) Ghiz said the vote was simply to “stop feeding the beast” of city spending, and that dealing with the need for a balanced budget starts with the city manager’s proposal, which is presented to the mayor and then to council. Then everyone has to reach agreement on both revenues and cuts.
Ghiz makes a point that when council holds the property tax collection steady – as it has for years – the city spends all it collects, which she says is no longer acceptable.
City leaders – those hired and elected – share responsibility for future financial decisions, and for the scope and shape and shape of city services.
Source: OPINIONS ENQUIRER EDITORIAL The Enquirer 7/2/11 A1
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Sycamore School District forecasts running a budget deficit (The amount by which school spending exceeds its income over a particular period of time, also called deficit or deficit spending) during each of the next five years. Source: Line 6.010, Sycamore Community Schools Five Year Forecast – October, 2010.
$2.3 million deficit spending during the 2010-2011 school year.
$3.8 million deficit spending during the 2011-2012 school year.
$4.0 million deficit spending during the 2012-2013 school year.
$12.3 million deficit spending during the 2013-1014 school year.
$15.6 million deficit spending during the 2014-2015 school year.
.Insert Sycamore projects Deficit Spending chart here
| FY | Total Expense | Total Revenue | |
| 2011 | $76.5 million | $74.1 million | |
| 2012 | $78.3 million | $74.5 million | |
| 2013 | $79.4 million | $75.3 million | |
| 2014 | $81.1 million | $68.8 million | |
| 2015 | $82.9 million | $67.3 million | |
.place chart link here
Sycamore’s deficit spending will be depleting its CASH BALANCE during each of the five forecasted years. Source: Line 7.020 Oct. 2010 Five Year Forecast
| FY | Cash Balance |
| 2010 | $41.7 million |
| 2011 | $39.3 million |
| 2012 | $35.5 million |
| 2013 | $31.4 million |
| 2014 | $19.1 million |
| 2015 | $3.4 million |
. place depletion of reserve balance due to deficits chart here
Sycamore’s deficit spending will be depleting its FUND BALANCE during each of the five forecasted years. Source: Line 10.010 Oct. 2010 Five Year Forecast
| FY | Fund Balance |
| 2010 | $39.5 million |
| 2011 | $37.3 million |
| 2012 | $33.5 million |
| 2013 | $29.4 million |
| 2014 | $17.1 million |
| 2015 | $1.4 million |
. Place property taxpayer burden… chart here
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I have to wonder if the Sycamore Community District has the ability to spell “Balanced Budget.” The taxpayers of the Sycamore Community District should demand Fiscal Responsibility from those they have elected/voted into office. During this tough economy which will not start to ease up until 2013, the citizens should expect nothing less than a conservative budget. If the District spends more than they take in, I would find it intolerable for the local community to sit back and be passive instead of holding those elected to office accountable for their loose and unacceptable spending habits.
M.K.
“Ohio Gov. John Kasich’s office Tuesday released the last pieces of data needed for school districts to get a picture of how much less they’ll be getting in state funding over the next two years.”
“Although the state hasn’t released a comprehensive list, an Enquirer analysis of state data released to date shows that Indian Hill will be hit the hardest by far. It will lose virtually all of its $2.3 million in state funding by the 2013 fiscal year.”
“Sycamore will lose 35 percent of its $15.5 million in funds during that same time.”
“Many districts had anticipated state funding losses of 15 percent to 20 percent.” …. and many have already proposed or voted on cuts. The Southwest school district has proposed laying off 26 of its 210 eachers. Princeton plans to cut 65 jobs. Lakota is proposing 133 job cuts.”
Source: State cuts to schools average about 14%. Only 2 area districts escape reductions. The Enquireer 3/30/11 B1