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North Ridgeville Board adopts 2025-26 tax budget; district projects roughly $121 million ending fund balance
Summary
At its Jan. 7 meeting the North Ridgeville City Board of Education approved the tax budget for fiscal year 2025-26 in one reading, a step required under the Ohio Revised Code. The district said the budget aligns with construction bond drawdowns and projects a large ending balance largely driven by bond proceeds.
At its Jan. 7 regular meeting, the North Ridgeville City Board of Education approved the district's tax budget for fiscal year 2025-26 in one reading, moving the document to the county budget commission for certification. The motion was moved by Ms. McCarthy and seconded by Ms. Saxon; the roll call vote recorded Ms. McCarthy, Ms. Saxon, Mr. Grigsby, Mr. Haynes and Ms. Nabaka as voting yes, and the measure passed.
The tax budget is the first formal step in the district's budgeting process for the fiscal year that begins July 1. "It is an Ohio Revised Code requirement that every board of education throughout the state of Ohio adopt a tax budget no later than Jan. 15 of each calendar year," said Mr. Buscini, treasurer, who presented the budget overview to the board.
The treasurer told the board that all fund types in the 2025-26 tax budget are projected to have positive ending fund balances. He said total estimated revenue for the budget is comprised of about 72% tax revenue, 17% state revenue and 11% other miscellaneous revenue, while expenditures account for about 45% of the total estimated budget. Those proportions leave a total estimated ending fund balance of roughly $121 million, a figure Mr. Buscini attributed largely to bond proceeds from a recent construction project.
"All of the fund types for the 25-26 tax budget are projected to have positive ending fund balances," Mr. Buscini said. He added that the higher beginning balances reflect the sale and issuance of bonds for district construction and that the district expects that balance to decline over time as construction draws proceed. The treasurer said the tax budget is aligned with the drawdown schedule provided by the architect and reviewed by the construction manager.
Under the process Mr. Buscini described, the board's approved tax budget will be submitted to the county budget commission, which typically issues an "original certificate of estimated resources" in March. That certificate sets the maximum amount the district may spend in the coming fiscal year; district officials said the certificate is later adjusted as actual figures become available and the board approves appropriation or estimated resources amendments.
The board did not change the tax budget at the meeting; members approved the item in a single reading as presented. The board will receive the county's certificate in March and may return to adjust appropriations once the fiscal year begins and actual revenues and expenditures are known.
Votes at a glance: Approved in one reading — Motion to approve the tax budget for fiscal year 2025-26 (mover: Ms. McCarthy; second: Ms. Saxon). Roll call: Ms. McCarthy: Yes; Ms. Saxon: Yes; Mr. Grigsby: Yes; Mr. Haynes: Yes; Ms. Nabaka: Yes.
