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Kenston treasurer projects modest year-end gain, warns of House Bill 96 changes
Summary
District Treasurer Seth presented monthly financials showing a projected positive year-end cash balance and summarized Title I spending. He flagged provisions in House Bill 96 — including a 30% maximum general-fund carryover cap and changes to the county budget commission — that could affect future levy timing and forecasting.
Kenton Local School District Treasurer Seth reported to the board on April 14 that the district expects to end the fiscal year with a modest positive cash balance after several years of deficit spending and internal efficiency measures.
Key numbers: The treasurer said the district closed fiscal 2024 with a cash balance of about $8.3 million (June 30, 2024) and is projecting that combined savings and operational measures will increase that balance toward about $8.9 million by year-end. He said the current projected ending cash increase is roughly $364,000 above the forecast presented in November, while revenues slightly exceeded prior estimates.
Title I and grant usage. The treasurer detailed Title I allocations and routine federal grants: Kenston was awarded approximately $111,000 in Title I funds for the year. He said most Title I spending goes to salaries, benefits, tutors and targeted instructional supports and that the district reports those expenditures to the Ohio Department of Education.
House Bill 96 concerns. Seth summarized key provisions in House Bill 96 (passed by the Ohio House on April 9) that could affect district financial planning. Notable items he highlighted: - A proposed maximum general-fund cash carryover capped at 30% of the prior year’s general-fund expenditures. He said Kenston’s current carryover is below that threshold but that the cap could force other districts to shorten levy cycles or alter timing. - Language that could allow county budget commissions to withhold collection of levied dollars to bring districts under the cap in a given year. - A change to the county budget commission’s composition (removing the county prosecutor and adding the county commissioners’ board president, according to the treasurer’s summary). - A proposed reduction of the five-year forecast requirement to three years, which could complicate multi-year contract certification and bargaining schedules.
Next steps and uncertainty. The treasurer said the Senate will consider the bill later (expected in June) and that he will model multiple scenarios for the board but present only the base forecast in May. He urged the board to be mindful of potential implications for levy timing and certification of negotiated agreements.
Ending: Treasurer Seth said he will continue monthly reporting, refine forecasts as legislation becomes clearer and post updated financials to the district’s public site.
