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Treasurer warns state deadline changes will reduce accuracy of forecasts; district reports healthy operating cash now
Summary
Treasurer Irvin told the board a state budget change shortens the multi-year forecast timeline and will force districts to submit the 'financial forecast' earlier, likely reducing available county data and forecast accuracy; the district reported 142 days of operating cash and plans to press legislators about deadline timing.
Treasurer Irvin briefed the Lebanon City Schools Board of Education on the district’s financial forecast and the state-driven timing changes that will affect future forecasts, budget work and reporting deadlines at the Sept. 15 meeting.
Why it matters: changes to state deadlines for the multi‑year forecast will force districts to prepare and file the document earlier in the calendar year, potentially before county property-tax settlement information and other critical data are available. That can reduce the forecast’s accuracy and complicate local budgeting and communication.
What the board heard: - Forecast timing change: Irvin said the state budget eliminated the fifth year of the traditional five‑year forecast and moved the filing window earlier; the document is now called a "financial forecast" and will require the district to submit first‑year appropriations plus three years of projections. For the current year the state allowed a later submission (October 15), but Irvin said the requirement will move to August in future years. - Data availability and accuracy concerns: Irvin warned that county property-tax settlement sheets and other inputs are often not available by the earlier filing date. "We're losing a lot of data points just simply from timing," she said, and said her professional group (OSBO) is asking legislators to reconsider the deadline change. - Current position: the district reported about 142 days of operating cash on hand (the target is 120); Irvin estimated year‑end operating cash at about 112 days and said the district expects to spend more than it receives in coming years under current assumptions. - Budget cycle: Irvin reviewed the district’s budget calendar and said administrators now begin planning in August–October; she explained how the earlier forecast deadline reduces time for planning and consolidating staffing and enrollment data.
Board response: members asked whether the district could shift internal planning earlier; Irvin said staff hiring and final staffing decisions often occur late in summer, which makes an earlier forecast date operationally challenging. Board members agreed to discuss the issue further with local legislators and the Ohio School Boards Association.
Ending: Irvin asked the board to be prepared for tighter timelines for forecast approval in future years and said she will return with updated financial projections at the next meetings.
