The Ross Local School Board convened on November 21, 2024, to discuss the district's financial forecast, revealing both challenges and opportunities for the upcoming fiscal years. The meeting highlighted key revenue sources, expenditure trends, and the implications of state funding formulas on the district's budget.

A significant portion of the district's revenue, approximately $33.5 million, is projected for the fiscal year 2025, with about half derived from state funding. However, the district has experienced a decrease of around $400,000 in state funding compared to the previous year, attributed to the state's fair school funding formula. This formula assesses local capacity based on adjusted gross income and property values, leading to reduced state support as community wealth increases. The district's treasurer emphasized the need for ongoing monitoring of these trends, particularly as property tax collections are expected to rise due to a recent triennial update.

Expenditures for the same fiscal year are estimated at $31 million, with personnel costs—salaries, retirement, and insurance—accounting for over 80% of the budget. The board noted that while staffing levels are expected to remain flat due to declining enrollment, costs for contracted services, particularly in special education, continue to rise. The district has successfully negotiated a favorable health insurance contract, locking in rates for the next two years, which is seen as a significant financial win.

Looking ahead, the board anticipates a shift to deficit spending starting in fiscal year 2026, driven by the disparity between revenue growth (projected at 1.85% annually) and rising expenses (expected to grow at 5.15%). This trend raises concerns about the sustainability of the district's cash reserves, which are currently projected to support operations for 96 days, exceeding the state recommendation of 60 days.

The meeting concluded with discussions on legislative actions affecting school funding, particularly the push for full funding of the fair school funding formula in the upcoming biennium budget. The board expressed hope for continued advocacy from the Ohio School Board Association to secure necessary resources for the district.

As the Ross Local School District navigates these financial challenges, the board remains committed to transparency and proactive planning, ensuring that the educational needs of the community are met while maintaining fiscal responsibility. The next forecast update is scheduled for May 2025, where further adjustments may be made based on evolving financial conditions.