The Madison Local Schools Board of Education approved its five-year-financial forecast during its regular meeting Wednesday night.
  

The forecast shows the district will be facing a deficit in 2015.  Board president Jeff Meyers said the board is being proactive to save money and still maintain a quality education for students.

"We're going to be in a deficit situation because of some of the cuts that have happened through the state. We're not getting the money we used to from the personal property tax and different grant programs," Meyers said.

"We're doing what we can do to go as long as we can without going to the ballot and we're keeping that promise. We made more than $800,000 in cuts in 2011 and made another $700,000 in 2012," Meyers said.

Meyers said the board will have to re-look at the funding issue facing the district.
 

In other business, the board looked at the interior design and colors of the new junior high school.

Meyers said the $38 million project is on schedule and 19-percent complete.
   

The new junior high will be located on the former site of Wooster Heights Elementary School which was leveled last fall.

The project is expected to be completed by February 2014.