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Five‑year forecast improves after levy passage; board approves updated forecast
Summary
Following a successful operational levy, the Nordonia Hills board approved its May five‑year forecast showing a multi‑year swing to a healthier position; administrators outlined key revenue drivers including property tax changes, MGM receipts and state funding assumptions.
The Nordonia Hills City Schools Board of Education approved an updated five‑year forecast Monday that administrators said is significantly improved after voters passed the district’s operational levy earlier this month.
Kyle (finance staff) and Mr. Wright (superintendent) told the board the levy and prior cost‑cutting steps produced a roughly $35 million positive swing in the five‑year outlook when compared with the November forecast. "Between the November forecast and the current forecast, we have a $35,000,000 swing positive when you jump out 5 years to 2029," a district presenter said, and attributed about $10 million of the change to active cost reductions and early retirement buyouts.
Administrators highlighted several revenue and cost assumptions used in the forecast: local property taxes are the largest revenue source (about 72% of general fund revenue in the presentation), the district will receive a final MGM settlement payment (the district reported $2,460,000 received over prior years and said it expects $465,000 next fiscal year), and state unrestricted aid assumptions follow the governor’s budget pending final legislative action. The presenter explained the effect of reappraisal cycles on effective millage, noting the 2023 reappraisal saw a large value increase and a 2026 reappraisal is forthcoming.
Board members asked clarifying questions about enrollment trends, health‑insurance assumptions (the district used a 10% health premium growth assumption with one premium holiday modeled), and how capital outlay and permanent improvement funds are being used for facility needs.
The forecast was filed and approved by the board in a roll‑call vote. Administrators said the forecast will be posted with its full notes and assumptions and that they will continue to refine assumptions (including final state budget outcomes) before the November forecast update.
