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Treasurer reports negative grant balances and county recommends lower tax mills; board adopts tax‑rate certification
Summary
The district treasurer briefed the board on negative grant cash balances driven by reimbursement timing and recommended an end‑of‑year transfer for athletic deficits; the board adopted the statutorily required tax‑rate certification after the county recommended lower millage for the emergency and bond retirement levies.
The Maple Heights treasurer told the school board April 28 that several federal grants show temporary negative monthly balances because the district spends funds first and then submits Program Cost Reports (PCRs) for reimbursement.
The treasurer said athletics (300 fund) is running in deficit and will require a transfer from the general fund at fiscal‑year end to cover year‑end obligations. Board members were told the fund‑balance (not the unencumbered balance) is the key figure for year‑end planning and that the treasurer will highlight negative funds in future cash summary reports.
The treasurer reviewed required tax‑rate certification to the county auditor under Ohio law and said the county recommended lower millage this year because revaluation increased property values. Specifically, the county recommended reducing the emergency levy from a prior effective rate around 21 mills to about 14.6 mills and reducing the bond‑retirement levy from about 13.2 mills to 9.5 mills; overall county calculations yielded a net reduction of roughly 10.3 mills. The treasurer cautioned that an individual taxpayer’s bill may not fall by that amount because property valuations also changed during revaluation.
The board voted to adopt the resolution directing the treasurer to certify amounts and rates to the county fiscal officer (resolution cited in the meeting as Resolution No. 25‑24). A roll call recorded “Yes” votes from multiple board members and the resolution was adopted.
The treasurer also reported on the district’s investment strategy and said most investments are short‑term (0–2 years) and in U.S. government or insured instruments in accordance with Ohio law. The board received a PAFR (public annual financial report) for fiscal year 2024; the treasurer said it would be posted online.
