Treasurer TJ Cusick presented the district's revised financial forecast and a 10‑year projection, saying the budget now uses a seven‑column layout that includes three forecast years and four total years of data. The board voted to approve appropriations modifications and the financial forecast as presented.

Cusick told the Board of Education that the new layout was a response to state timing changes and local questions about the traditional five‑year forecast. "That, friends, is how you have a 7 column, 3 year forecast," he said, explaining the format shows the current adopted budget year plus three succeeding years of projections.

The nut graf: the treasurer said the forecast shows the district's revenue increasingly driven by local property taxes as state aid falls, and that long‑term reserves and a $48 million capital transfer postpone immediate levy discussions but do not eliminate future funding pressure.

In the body of the presentation, Cusick emphasized that more than 80% of district revenues come from local sources and roughly 79% of that is property taxes. He described recent reductions to the district's state funding tied to the Fair School Funding formula and cited a roughly $2.2 million annual reduction in the formula that, after offsets and additions, translates to about a $1 million annual impact for Worthington. Cusick said the district is now operating under the state's "2020 guarantee," with state per‑pupil support falling from about $1,600 toward $809 by the end of the biennium in his projection.

Cusick highlighted expense drivers: payroll (roughly three quarters of district expenses), employee insurance and retirement (noting retirement is about 14% of wages), and increasing costs for out‑of‑district placements for high‑needs students. He said the district transferred $48,000,000 into a capital reserve and that most future capital spending will be drawn from that reserve, which reduces the capital line in the near term but not recurring operating pressure.

On reserves and timing, Cusick said the district will not fall below its targeted unreserved balance (a 60‑day recommendation) until fiscal 2030 under current assumptions, and that FY 2028 (fiscal 2029) likely will be the year to revisit levies. He listed key risks: potential property‑tax law changes being debated at the statehouse, federal funding uncertainty (including Title I and IDEA), and health‑insurance inflation. He also warned of the possibility that federal dollars shifted to the state could indirectly reduce state aid to districts.

Board members asked clarifying questions about assumptions and contingency planning. Board President Kelly Davis and several board members thanked Cusick for the long‑term view and asked about alternative revenue options such as income or sales taxes; Cusick said an income tax would have substantial implementation lag and that pursuing alternate revenue sources would require careful study.

Ending: After discussion, the board approved the appropriation modifications and the financial forecast by voice vote. Cusick closed the presentation and invited questions from board members.

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