Update on State Education Funding Cuts

Update on State Education Funding Cuts
Posted on 05/19/2020
Update on State Education Funding Cuts Greenon Schools will see a funding cut of 5.58 percent of its annual state foundation funding for May and June of 2020, as part of $300 million in K-12 education cuts announced by the state on May 5, 2020.
"We are working with our board and administration to make decisions about how to move forward with the budget reductions information shared by the state this morning.,” said Superintendent Brad Silvus. “Greenon is committed to responsible management of our budget while providing outstanding educational opportunities to our students and will apply that same approach to determining how to proceed."
In April 2020, the state of Ohio provided information to the public regarding projected issues with collection of tax revenues as a result of declining revenues due to the COVID-19 pandemic. For the year to date, the state is $777 million below the projected amount needed. For the entire year, the state projects a $2 billion deficit.
Recently in May 2020, the state announced a reduction of $775 million dollars, including cutting $300 million from K-12 education. For Greenon Schools, this equates to a reduction of $354,000 for the months of May and June in 2020. This is 5.58% of the school district’s 2019-2020 state funding. These reductions will begin in the May 2020 state foundation payments and continue through June 2020.
“At this time, we have been informed to plan for a ten percent reduction in state funding in the future,” said Treasurer Brad McKee. “Our district must engage in difficult conversations to find the best solutions to maintain our strong financial position moving forward.”
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