District To See 1% Cut Under New State Budget
An update from Treasurer Kent Zeman: The Conference Committee (made up of members from the House of Representatives and the Senate) met June 27 and resolved the differences between the House and Senate version of House Bill 49 – the Biennial Budget. Both the House and Senate approved the Conference Committee recommended Biennial Budget without modifications.
Governor John Kasich signed the bill June 30, just minutes before midnight. The financial impact to the Lakewood City School District followed the Senate version of the bill, which means the District will see a 1% reduction in foundation funding in Fiscal Year 2018 or $172,825 and no additional reduction in Fiscal Year 2019.