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Treasurer reports higher-than-expected property tax delinquencies; insurance increase recommended
Summary
The district’s treasurer told the board that August property tax collections showed higher delinquency (about 3%) than projected, driven by commercial parcels; the insurance committee recommended a 6% increase in health insurance premiums using reserves to blunt a larger rise.
Worthington’s treasurer reported to the Board of Education on Sept. 9 that August property tax settlements showed higher‑than‑projected delinquency and that the district’s insurance committee is recommending a 6% increase in health insurance premiums.
TJ Cusick, treasurer, said August is a major revenue month for the district because property tax settlements arrive then. He said the district typically budgets for about 1.5% delinquency but this settlement was closer to 3%, “about double that,” and that the increase was driven by commercial property collections. Cusick said residential collections were above projections and that one large parcel’s second‑half payment could improve results.
On benefits, the insurance committee met recently and—after detailed data review—recommended a 6% increase to health premiums. Cusick said the committee will use a portion of reserves to absorb a larger increase that had been projected earlier; the increase will appear on a future board agenda for approval.
Cusick also presented other operational metrics during the meeting: current enrollment (10,730 students), 14,000 Chromebooks distributed over the summer, 3,000 technology help tickets processed in August, and hundreds of summer hires and work orders. The treasurer said the district will revisit multi‑year revenue assumptions in the five‑year forecast this fall given the collections data.
