The Norwalk City School District treasurer told the board on Sept. 10 that the district placed three new certificates of deposit at roughly 4% and 3.8% to replace older accounts that earned near-zero interest, and that a 2028 CD at 5% had been called because market rates are falling. The treasurer also reported that higher property valuations and the second half of the tax year resulted in increased receipts: the general fund rose by about $1.6 million and bond receipts by about $1.1 million.

The treasurer explained that the district does not receive state rollback (a state-paid reduction) on newly issued bond millage and noted the state has changed rollback policies; the transcript records the treasurer saying the new bond millage does not receive the 12.5% state rollback that older levies received. The treasurer also presented updates to estimated resources and permanent appropriations for fiscal 2026 and said the state provided a drawdown schedule that included a roughly $5,062,000 figure tied to the ongoing project; the district reported having already received the first draw of just over $1 million.

Other finance items covered in the report included property, liability and automobile insurance premiums paid through the Ohio School Plan and a separate cyber-insurance policy premium of just under $10,000; a continued relationship with American Fidelity to provide pretax premium options for employees; and an hourly instructor rate for driver’s education set at $21.24, aligned with the district’s bus-driver step rate. The treasurer also said the district must increase the adult lunch price to a minimum of $5 starting the next day to match a reimbursement benchmark of $4.69.

Board discussion noted concerns about state-level tax and budget actions and the possible effect on district revenues in future legislative sessions. The treasurer said the district will continue to monitor interest rates on investments and will present appropriation changes and contract exhibits to the board as needed.