"City Schools Could Be Headed For Red" WBNS-10TV

Link: City Schools Could Be Headed For Red
Jennifer Smith Richards
WBNS-10TV
January 24, 2008

This is how crucial passing a levy this year is for the Columbus schools, officials said yesterday: Without it, the district's cash balance will shrink to $12.6 million in 2009 and be in the red by 2010.

The 2009 figure wouldn't cover even one pay period for district employees -- the district cuts $14 million in payroll checks every two weeks..

...And Ohio school districts aren't allowed to operate in the red. So if Columbus' cash balance dries up and the levy fails, the district would face significant cuts to stay in the black...