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Treasurer: Big Walnut posts stronger-than-expected January revenues, warns state funding freeze shifts burden to locals
Summary
Treasurer Linscott reported January 2025 revenues outpaced estimates and raised concerns about a state budget proposal that freezes Fair School Funding inputs at FY22 levels; he urged annual updates to base inputs to avoid shifting costs to local taxpayers.
Big Walnut Local Schools’ treasurer reported Jan. 31, 2025 financial results that showed revenues exceeding estimates and a strong cash position, and used the presentation to outline concerns about the state Fair School Funding Plan and a governor’s budget proposal that he said freezes input values at FY22 levels.
Treasurer Linscott told the board total actual revenues and other financing sources for the fiscal year were about $35,980,000, compared with an estimated $34,580,000 — roughly $1.4 million (4.05%) over projection. He reported an ending cash balance of $37,380,000 as of Jan. 31 and an unreserved fund balance of $34,780,000. Linscott said expenditures were under budget overall by about $1,022,876 (3.02%).
Linscott warned the board that the state budget proposal to “freeze inputs at the FY22 levels” would reduce the state share of school funding over time and shift costs to local taxpayers. "The challenge that we have... is that as those inputs are put into this formula, they're frozen at the FY '22 levels," he said, adding that he and counterparts across Ohio are advocating that base cost inputs be updated annually so the state share keeps pace with actual costs.
He reviewed several statewide issues: the phase-in schedule for the Fair School Funding Plan, the role of property valuations in calculating local/ state shares, and the growth in voucher participation that he said redirects public dollars to private schools. He also summarized state-level discussions on targeted property-tax relief options ("circuit breaker" proposals) and transportation-weight changes in the funding formula.
Other financial details Linscott presented: interest earnings exceeded estimates by roughly $1.4 million; personnel services and benefits trended under budget; capital outlay variances were noted as timing issues. He encouraged continued monitoring of capital and purchase-service categories and said the district will continue to advocate through the Ohio Association of School Business Officials for annual updates to base inputs in the state formula.
Separately, Linscott presented required information about the Individuals with Disabilities Education Act (IDEA) public input process and said the district will post a Google Form for community comment as an allowable method to solicit input for use of federal IDEA funds.
