Board receives treasurer update on reserves, OKs 20‑year facilities assessment and several routine motions

The Willoughby‑Eastlake City Schools Board of Education on April 14 received a treasurer's report showing property tax collections near estimates and a strong cash position while discussing how pending state budget rules could reduce the district's reserves.

Treasurer Mr. Charnello reported March property‑tax settlements brought collections to 99.74% of estimate and said the district expects to finish the fiscal year with about 138 days of cash on hand (roughly 4.6 months). He warned that a proposed House cap on cash balances (reported at a 30% cap in the House budget discussion) would lower the district's cash to about 3.6 months and would reduce available funds by roughly $9.5 million, accelerating the timing of any future levy cycles. "The district's current cash balance policy does require the district begin looking at a new levy and/or deficit actions once we hit 25%," the treasurer explained, referencing the board's own…