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Board approves five‑year forecast, precaution plan and a levy resolution after finance presentation
Summary
The Garfield Heights City Schools Board of Education approved the district’s May statutory five‑year forecast and a precaution workbook on May 19 and passed related financial resolutions, after finance staff detailed projected deficits, the impact of county reappraisals and state funding uncertainty.
The Garfield Heights City Schools Board of Education on May 19 approved the district’s May five‑year forecast and a precaution workbook and narrative submitted to the Ohio Department of Education and Workforce, after a broad presentation on revenues, expenditures and levy strategy.
District finance staff presented a May statutory forecast that showed projected general‑fund revenue of about $47.3 million and expenditures of about $50.4 million for fiscal 2025, producing an anticipated deficit for the year. Finance staff described the result as a snapshot of current assumptions and variables, and stressed it could change as state budget language or reassessments evolve. "This forecast that we do today will be completely different tomorrow and the day after," the presenter said.
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