TPS asks for smaller levy - 13abc.com Toledo (OH) News, Weather and Sports

TPS asks for smaller levy

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TOLEDO, Ohio -

TPS's finance committee voted Friday morning to ask taxpayers to pass a smaller school levy. School leaders say the district ended the 2012 fiscal year with some extra cash.  Eight million dollars to be exact.

"No we're not talking about bringing anything back specifically we're talking about continue what we have in the transformation plan and not bringing those things back," said board member Bob Vasquez.

Vasquez says the committee will ask the board to pull the current levy request for 6.9 mil.  And approve a permanent 4.9 mil levy for 10 years. It would generate 13.3 million dollars and cost the homeowner of a $100,000 home 150 bucks a year

Vasquez admits he has some concerns.

"We're not providing ourselves any cushion we not we're not trying to fill our rainy day fund this is the bare minimum to operate and if you look at other organizations they try to operate with a little bit of surplus but we are not doing that, " said Vasquez

If voters pass the 4.9 mil levy the district would have a two million dollar deficit.  If it fails, the district claims that projected deficit would balloon to 48 million

 

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