An extra $484,739 from the state won't help the Marysville Exempted Village School District immediately overturn any of the cuts enacted by the board of education in the past few months.

An extra $484,739 from the state won't help the Marysville Exempted Village School District immediately overturn any of the cuts enacted by the board of education in the past few months.

The money will make up for a state funding shortfall that stemmed from inaccuracies in the formula used to calculate payments districts received to replace lost income as the tangible personal property tax was phased out.

Marysville schools treasurer Dolores Cramer found the miscalculation last October and has been working with other school district treasurers and state lawmakers to correct the formula. The correction became official when Gov. Ted Strickland signed the budget-correction bill last week.

"It's not really a gain," Cramer said. "It's money we should have been receiving. It's not 'found' money."

"People are going to ask, 'Why not get something back?' with that (money)," school board president Jeff Mabee said at last week's board meeting.

Superintendent Larry Zimmerman told board members that the money would "go into the academic program."

"We're going to be very conservative," he said.

When the state legislature in 2005 passed the law eliminating the tax on tangible personal property, a formula was included to "make-whole" those school districts that would lose funds, said Scott Blake, spokesman for the Ohio Department of Education.

"Those payments were to be made based on enrollment estimates," Blake said.

Cramer said the estimates being used for Marysville were too high and would adversely affect the "make-whole" payments.

Other districts throughout the state also were affected, with some, like Marysville, receiving too little and others receiving too much.

"The new bill sets the payments based on actual enrollment," Blake said. "This is what was originally intended."

The correction will be made in three payments in the next fiscal year. Blake said 188 districts will have to pay back at least some of their "make-whole" funds from this year, while 116 will see an increase.

Zimmerman credited Cramer for being among the first to recognize the error in the formula and for her diligence in working to get the formula corrected.

jfischer@thisweeknews.com