Garfield Heights board approves revised five-year forecast as district faces state fiscal caution risk

The Garfield Heights City School District board on Monday approved a revised five‑year financial forecast that projects a $2,453,000 shortfall for the current fiscal year and warns the district will enter fiscal caution if enrollment and revenue trends persist.

The forecast, presented by Treasurer Oko, shows the district's projected July 1 cash balance fell from an estimated $9.4 million in the November forecast to about $6.96 million in the March update. "We are spending more than we have taken in," Treasurer Oko said during the presentation, noting enrollment declines and changes to state funding as the main drivers.

The update was approved on a voice/roll‑call vote (moved by Miss Daniels; second by Miss Thomas). Trustees also discussed a May renewal levy and potential remedial steps required by the state should the district be placed in fiscal caution or fiscal emergency.

Why it matters: The state of Ohio notifies districts that fall below certain cash thresholds and can require a deficit‑reduction plan, place a district in fiscal caution, and — if deficits deepen — establish a state commission that would approve major fiscal decisions. The board's forecast shows the district could reach a negative cash balance by fiscal 2027 if current trends continue; without the May levy the district's projected negative balance grows substantially.

Key figures and context from the presentation: Treasurer Oko told trustees the district's funded enrollment used for state aid fell from about 2,969 in earlier years to roughly 2,434 in the most…