EAST LIVERPOOL –Following the publication of an article last week in editions of the Morning Journal and The Review on the board meeting held by the East Liverpool City Schools Board of Education on Sept. 25 when BOE President David Hamilton announced the board would be holding a special meeting to discuss the district’s five-year forecast, the board issued a media release providing their official response to a comment made during the meeting and additional information.

During the board meeting Hamilton said that the board’s Finance Committee had met just prior to the board meeting to discuss the five-year forecast and that the district could be in the red by the third year. No additional comments were provided at that time.

The media release sent by email from Megan Hernandez, communications, East Liverpool City Schools, on Sept. 28 Treasurer Anson Wiegand said “the district will not technically be in the red in year three. Instead, our expenditures are projected to exceed our revenue based on the state’s current funding models. This means that while our spending would outpace incoming revenue under present conditions, the district will still maintain an acceptable positive cash balance at that time.”

He also noted that the special board meeting to be held on Oct. 13 at 6 p.m. is to approve the five-year forecast which has a state filing deadline of Oct. 15, which falls before the board’s next regular meeting date. The meeting will be solely for the purpose of approving the forecast and there will be no discussion held.

“The long-term financial outlook remains dependent on pending legislation at the state level, including the possible passage of the current House Bill under consideration,” Wiegand said. “The district will continue to closely monitor state funding updates and adjust the forecast accordingly to ensure financial stability.”