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Twinsburg treasurer reports fiscal 2024–25 general fund closeout, local revenue rise offset by state cuts
Summary
District finance staff reported July 16 that general fund receipts for fiscal 2025 were $60,622,000, expenditures $61,534,000, and a June 30 fund balance of $17,358,000; local tax collections rose while state foundation funding declined.
At a July 16 board meeting, Twinsburg finance staff presented a fiscal year-end overview showing general fund receipts of $60,622,000 and expenditures of $61,534,000 for the most recent fiscal year, leaving a June 30 unencumbered fund balance of $17,358,000 (about $547,000 of that balance was encumbered for payments due after June 30).
The presenter, identified in the meeting as Julia, said local property tax collections produced a $3.96 million increase in local revenues compared with the…
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