Wilmington City School Treasurer Kim DeWeese, far left, give the Wilmington City School Board an update on their financial situation and talks about the levy on the May 2 ballot.
John Hamilton | News Journal
From left, Wilmington Middle School students Reagan Rhoads, Ava Nicely-Woodall, Brylei Mitchell, Kaylinn Vance, and Ichika Ebisawa were recognized at the recent Wilmington School Board meeting for participating in the Clinton County Workforce Collaborative.
John Hamilton | News Journal
WILMINGTON — Looking ahead financially was on the agenda for the Wilmington City Schools Board of Education on Monday.
The district’s treasurer, Kim DeWeese, broke down the five-year forecast for the district. DeWeese advised that since the 1% income tax failed to be renewed, the district is projected to be at an estimated $3.7 million over/under expenditures in 2024. Those expenditures would decrease until it reaches just over $5 million in 2027.
“We’ve been very fiscally responsible with our money and we do have an $18 million carryover, which is about six months of expenditures,” she said, but adding that “it’s really not a lot in the grand scheme of things.”
She highlighted, in particular, the cash balance for the schools is expected to go down drastically over the forecast — from $18.5 million in 2023 to $361,691 in 2027.
The 1% income tax was originally passed by the voters in 2002 and was renewed three times after that. It was not renewed in 2022, losing by 340 votes – 3,484 against it, 3,144 for it.
According to the Clinton County Board of Elections, the proposed levy is a 0.75% annual income tax on individuals and estates for five years. The levy is to appear on the May 2 primary ballot.
DeWeese highlighted that, if passed, 95% of the money would go toward operating expenses and 5% would go toward permanent improvements. If passed, it would go into effect on Jan. 1, 2024.
Also during the meeting:
• The summer lunch program will occur between May 30 and Aug. 11 from 11 a.m. to 1 p.m. at Wilmington Middle School. They will be closed on July 4. A child does not have to be a Wilmington City Schools student to get lunch, they only have to be under 18-years-old.
Reach John Hamilton at 937-382-2574
