COVENTRY TWP. The revised five-year-forecast for Coventry Local Schools is looking less favorable.
During the Nov. 26 Financial Planning and Supervision Commission meeting, the commission approved the five-year-forecast which now shows a negative cash balance for the district in the fifth year.
The original five-year-forecast presented showed a positive $1.6 million fifth-year balance compared to the revised forecast which shows a negative $820,309 balance.
The Board of Education recently approved the five-year-forecast but since it has been revised, it will have to approve the revised version.
Treasurer Sherry Tyson said the loss in funding from open enrollment resulted in the negative fifth-year balance.
Voters in the school district will also need to approve a renewal levy in 2020 and one in 2022, or the district will go deeper in the negative.
During the meeting, the commission also approved for the district to place a property tax renewal levy on the March 17 ballot. This process is normally done in two steps, but the commission is permitted to combine the process into one, which it did.
Superintendent Lisa Blough said the levy brings in $1.985 million per year each and was first approved in 2010. She said the passage of the renewal is critical for the district.
The next Financial and Supervision Commission meeting is set for 4:30 p.m. Jan. 7 at Coventry Elementary School.