Finance Committee reports $32M in revenue and lower expenditures in budget update

The Goshen Local School District Board of Education meeting on May 6, 2025, highlighted a significant financial update, revealing a robust increase in the district's general fund. The board reported a beginning balance of $15 million, which has surged to $32 million this fiscal year, driven largely by real estate tax settlements and a successful reappraisal.

As of now, the district has received 83% of its projected budget, exceeding expectations. With expenditures totaling $27 million, the district remains under budget, having spent only 72% of its allocated funds for the year. This careful financial management has allowed the district to maintain a healthy cash flow, trending towards a projected fund balance of $18 million, surpassing the initial budgeted figure of $15 million.

The increase in revenue, up by $3 million compared to last year, is attributed to the homestead rollback and adjustments in state funding for disadvantaged areas. However, expenditures have also risen, reflecting inflationary pressures, particularly in salaries and benefits.

The board acknowledged a recent overpayment from the county auditor's office, which may slightly skew the financial figures moving forward. Overall, the meeting underscored the district's strong financial position as it approaches the end of the fiscal year, setting a positive tone for future planning and budgeting.