Big Walnut board approves five‑year forecast, directs treasurer to draft $3.03 million bond‑reduction resolution

The Big Walnut Local Schools Board of Education on Monday approved an updated five‑year financial forecast and a package of fiscal actions, and it voted to direct Treasurer/CFO Scott Gooding to prepare a resolution to return $3,026,730.65 to reduce bond millage for the next tax year.

The forecast presentation by Treasurer Scott Gooding summarized the district's August 2025 financial results and long‑range projections. "Total revenue and other financing sources received in the general fund were $25,780,000, exceeding our estimates by $1,730,000, or 7.2%," Gooding said, noting timing differences in property tax advances and front‑loaded purchases such as textbooks and technology devices.

Gooding told the board the district moved $18 million from the general fund into the capital projects fund this year, creating a one‑time spike in transfers and helping preserve the district's cash position. He also warned the board that the projection shows the district beginning to run annual deficit spending in fiscal year 2028 under current assumptions: "In FY '28 is when we start deficit spending," he said.

Why it matters: approving the forecast and related appropriations is a statutory step that sets the district's spending authority and informs tax‑rate calculations with the county auditor. The board's direction to the treasurer to prepare a resolution to return roughly $3.03 million would reduce next year's bond millage by making a cash payment from reserves, which board members said could lower some taxpayers' bills but may require future boards to revisit similar decisions.

Key details and board action: Gooding walked the board through revenue drivers (local property tax accounts for 56.21% of general fund revenue, income tax 20.08%) and state funding changes under House Bill 96 and the phase‑in of the Fair School Funding Plan. He described forecast assumptions for enrollment, triennial reappraisal impacts (an assumed 8% increase in the forthcoming update), and staffing additions built into the five‑year plan.

During discussion, board members pressed for scenario modeling. Board member Doug Duffy moved that the treasurer prepare a resolution to return $3,026,730.65 (noted in discussion as 10% of the cash reserve balance) and provide modeling showing taxpayer impacts and options for directing the funds to bond reduction. The motion was seconded and passed by the board. Several trustees said they expected detailed modeling in advance of the next meeting.

Votes at a glance - Motion directing the treasurer to prepare a resolution to return $3,026,730.65 (to be applied for bond reduction): moved by Doug Duffy; seconded; outcome: approved (roll call: Duffy yes; Fuji yes; Graziosi yes; Nicks yes; Crowell yes). (See actions[] for full record.) - Approval of the five‑year forecast as presented by the treasurer: outcome: approved. - Approval of permanent appropriations for FY 2026, transfers, and other routine budget items: outcome: approved. - Approval of health‑insurance vendor change (Medical Mutual of Ohio): outcome: approved. - Approval of a $100,000 purchase of technology services for Genoa Christian Academy (flow‑through funds): outcome: approved. - Acceptance of donations, including a $9,000 donation to address negative student lunch balances: outcome: approved.

What the board asked for next: Trustees asked the treasurer and staff to provide the following in advance of the October meeting: (1) taxpayer impact scenarios showing sample parcel tax bill changes if the district applies the $3.03 million to bond reduction, (2) a revised five‑year forecast if the board formally adopts the cash return, and (3) timing for filings with the county budget commission and the Ohio Department of Education as required.

Background and context: Gooding explained the state budget changes in House Bill 96 and the phased implementation of the Fair School Funding Plan. He also summarized that the district's ending cash balance remains positive and that the forecast is being filed earlier in the year because the legislature moved forecast deadlines.

Ending: Trustees voted to adopt the forecast and related budget items and instructed staff to prepare the bond‑reduction resolution with modeling for the next meeting; staff said the modeling would be provided at least two weeks before the October meeting.