Ledgemont Schools Treasurer Belinda Grassi is in a predicament. She does not have enough cash on hand to make payroll next month and she has not paid any bills since before Thanksgiving. Two banks have turned down Ledgemont for a $500,000 loan because its fiscal recovery plan doesn’t get the district out of fiscal emergency. The state of Ohio won’t provide any additional financial solvency assistance until the spring, at the earliest. The five school board members have refused to make recommended cuts until after the current school year, despite a directive from the state fiscal oversight commission to enact...
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