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Treasurer presents conservative five‑year forecast; board approves assumptions and discusses cash‑reserve policy
Summary
Treasurer Nick Roberts presented a five‑year forecast calling for flat state funding, growth in income‑tax revenue and planned transfers to cover general‑fund debt; the board approved the forecast assumptions and discussed revisiting the district cash‑reserve policy amid proposed state limits on local reserves.
Nick Roberts, Canal Winchester School District treasurer, presented the district’s five‑year financial forecast at the May 12 board meeting and asked trustees to approve a set of assumptions to guide budgeting.
Roberts said he modeled a conservatively flat state funding scenario through the forecast window and factored in potential legislative uncertainty, noting the state budget and property‑tax proposals remain unsettled in Columbus. “I do think the formula will cease to exist. So I did incorporate that into the line to where it's basically flat funded on these two lines,” Roberts said. He reported income‑tax revenue as the primary growth driver in the forecast and said expenditures continue to rise because of growing student needs such as mental‑health services and special education.
The forecast assumes continued participation in the federal CEP program for free school meals through 2028, and an annual planned transfer of $1.4 million from the general fund to cover debt service associated with the district’s performing arts center and athletic complex borrowing. Roberts said the forecast shows a projected general‑fund balance of about 25.8% in the first year, rising to about 26.6%, and that the district plans to earmark transfers to ensure debt obligations are met even if future budgets are constrained.
Why it matters: the five‑year forecast sets the district’s planning baseline for staffing, capital and long‑term obligations. Board discussion focused on whether the district should adopt a different formal cash‑reserve target because the Ohio legislature has proposed caps on allowable reserves. Roberts said he prefers the board set district policy on reserves rather than accept a state cap.
Board action: trustees approved the five‑year forecast assumptions as presented. Trustees also asked staff to place a cash‑reserve policy on a future work session agenda; Roberts suggested a target range of 35–40% of annual expenditures is more conservative than the district’s current three‑month (roughly 25%) guideline.
Officials also discussed capital spending practices: permanent improvement fund and inside‑millage revenues will continue to fund roofing, paving, buses and other capital projects so those investments do not strain the operating forecast. Roberts said he plans to increase the district’s termination‑benefits reserve to cover potential retiree severance costs tied to STRS changes.
