Board hears financial report and forecast after passage of May 6 operating levy

Superintendent Ted Hazleman and the district’s fiscal staff presented an updated financial forecast and the April financial report after the May 6 operating levy passed.

Hazleman read a letter thanking voters for passage of what he described at the board meeting as a "5 year point 75% traditional income tax," and said the district intends to remain fiscally responsible while implementing the program of work supported by voters.

April financials and receipts The treasurer (identified in the meeting as Matt) reported that the district received its real‑estate tax distributions on April 2 and that collections were close to the year’s projections (he said the district was about $14,000 off on its estimate for real‑estate receipts). The treasurer said the district had received its final allocation of income tax for the reporting period and that cash reserves would decline through the summer as the district enters a seasonal low in collections.

Forecast changes after the levy Treasury staff presented a May update to the multi‑year forecast showing that passage of the May 6 levy materially changes the district’s projected ending balances compared with the November forecast that preceded the levy campaign. The treasurer said the forecast had been adjusted with current collections and that, while some state funding issues remain unsettled, the district showed a path back to a balanced budget and improving reserves over the multi‑year projection because of the levy.

Risks and remaining uncertainties Treasury staff warned that several state policy and funding items remain uncertain, including potential changes to the fair school funding formula and other legislative proposals in Columbus. The treasurer said the May forecast uses current state information and that additional revisions will be filed if state action requires it.

Pipeline transfers and investments The treasurer reviewed recent transfers: the board has moved pipeline receipts from the general fund into the capital projects (pipeline) fund as authorized by a previously adopted resolution. He said $50,000 of pipeline money was set aside for turf replacement and that other pipeline balances will be reserved for capital projects and benefit obligations. He also reported expected investment earnings for the year and a target investment goal of about $1,300,000; the treasurer said collections and investment results to date put the district near that projection but that additional collections were required in May and June to meet the target.

What the board did The board voted to approve the treasurer’s report. (Recorded roll‑call votes and attendees are included in the meeting record.)

Ending Board members and staff said they will continue to monitor state policy developments and will update the forecast at the required November and May submissions or sooner if circumstances change.