Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Marysville approves five‑year forecast after levy; treasurer warns operating deficit persists
Summary
The Marysville Exempted Village School District board approved its May five‑year forecast following passage of a 5.5‑mill emergency levy, but Treasurer Todd Johnson told the board the district remains in an operating deficit and will draw down reserves as preschool and other costs come online.
The Marysville Exempted Village School District board on Tuesday approved the district's May five‑year forecast after voters passed a 5.5‑mill emergency levy in May that is expected to bring roughly $6.9 million in new annual revenue at full collection.
In presenting the forecast, Treasurer Todd Johnson told the board the district remains in an operating deficit. "The red line expenditures is above the blue line revenue every year and that was as we expected ... that means we are in an operating deficit," Johnson said. He said the district's cash balance remains positive through the forecast but will fall to about $2 million by fiscal 2029, below the board's stated goal of maintaining one month of expenditures.
The forecast incorporates several revenue and expenditure changes. The levy will be phased in over two fiscal years, with roughly half of new levy revenue appearing in fiscal 2026 and full collection expected in fiscal 2027. The district's tax‑increment financing (TIF) agreement with the city is projected to generate about $1.2 million in additional revenue for the district beginning in fiscal 2026. The treasurer also noted a projected annual Amazon pilot payment of $903,000 currently modeled for fiscal 2029, though he cautioned timing is uncertain.
Johnson said a significant boost in public utility personal (PUP) property tax valuation produced roughly $567,000 in unexpected revenue for fiscal 2025, reducing what had been forecast as a decline. The forecast assumes the district will receive about $463,000 in TPP (tangible personal property) phase‑out reimbursement in fiscal 2025 and does not assume further TPP reimbursements beyond this year.
On the expenditure side, the forecast reflects the district taking on preschool operations, which Johnson said adds an estimated $3 million in wages and benefits and about $650,000 for purchased transportation services in fiscal 2026. The projection also models costs for restoring school resource officers to buildings at an approximate annual cost of $700,000, and shows a spike in expenditures in fiscal 2025 tied to the end of federal ESSER grants.
Johnson highlighted legislative uncertainty as a major risk. He told the board that proposed state actions — including earlier House action on a bill that would alter the Fair School Funding Act — and at least 14 pieces of pending legislation affecting property taxes and valuations could materially change the district's state and local revenue outlook. "That would be very significant to our district that would potentially cost the district 4 to $5,000,000 if this were implemented," Johnson said of one scenario under discussion in Columbus.
Board members discussed the forecast at length before voting to approve it. The board also approved the related treasurer items on the consent agenda. Johnson and other speakers repeatedly emphasized the forecast is a snapshot that could change quickly as the state finalizes its biennial budget and as local values and settlements are updated.
What the board voted on and next steps: The board approved the May five‑year forecast and associated treasurer recommendations. The forecast will be filed as required by state law. Staff will continue to monitor state budget action, TIF settlements and PUP valuations and will return to the board with updated simulations when new state budget information and actual settlements are available.
