Though the worst effects of the economic downturn are to come, the School District will more immediately lose $64.3 million in expected revenue through June — money it would have received from the city’s use and occupancy tax, liquor-by-the-drink tax, and other local funds. Its fund balance will be able to cover that shortfall, Monson said. The district is also planning for a $108 million cut in state funding, he said, given Pennsylvania’s projections of a shortfall of billions.