In a recent meeting held by the Olmsted Falls City School District, key financial updates and technological advancements were discussed, highlighting the district's ongoing efforts to improve fiscal management and operational efficiency.

The meeting began with a review of the district's financial status, particularly focusing on the general fund cash balance. The district reported a cash balance of $13.8 million for February, a decrease from $16 million in the same period last year. This decline was attributed to the timing of real estate tax collections, a situation exacerbated by the lingering effects of COVID-19 on revenue streams. However, optimism was expressed regarding upcoming settlements from Cuyahoga County, which are expected to align with projections and potentially improve the district's financial outlook for the remainder of the fiscal year.

The discussion also touched on the ongoing audit process for fiscal year 2024. The district is in the final stages of this audit, with a draft report anticipated soon. This audit is crucial for ensuring transparency and accuracy in financial reporting, and further updates will be provided as the process concludes.

In addition to financial matters, the meeting highlighted advancements in the district's technology systems. Representatives attended a spring user group session focused on the EFP (Education Finance Program), which has become a valuable networking opportunity for sharing best practices and enhancing system functionalities. Notably, the district is exploring the implementation of a position control module, which will streamline the management of staffing and departmental needs across schools.

Another significant development discussed was the transition from paper-based timekeeping to an automated system known as Time Clock Plus. This change aims to eliminate errors and delays associated with manual time tracking, thereby improving payroll accuracy and efficiency. The district is currently testing this system to ensure it meets the diverse scheduling needs of its employees.

Overall, the meeting underscored the Olmsted Falls City School District's commitment to financial prudence and technological innovation. As the district navigates these changes, stakeholders can expect continued improvements in both fiscal management and operational processes, ultimately benefiting the educational environment for students and staff alike.