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Little Miami treasurer presents FY2026 tax budget as board approves plan
Summary
Treasurer Terry reviewed the district's fiscal 2026 tax budget, outlining millage rates, debt-service projections and fund balances; the board voted to approve the tax budget and send it to the county budget commission for certification.
Treasurer Terry opened the Little Miami Local School District's tax-budget hearing by describing the tax budget as "a planning tool" required under the Ohio Revised Code and said it sets estimated millage rates and revenue for fiscal year 2026 (July 1, 2025'June 30, 2026). He reviewed the schedules on the display and answered board members' questions during the public hearing.
The tax budget presented the district's three tax-supported funds: the general fund, the bond retirement (debt service) fund and the permanent improvement (PI) fund. Terry said the general fund is at the 20-mill floor required by state law, the PI fund is a straight 3 mills, and the district's emergency (operating) levy, passed in 2011, is estimated to collect the equivalent of about 6.18 mills for the coming year.
Why it matters: the district uses the tax budget to estimate how much property-tax revenue it will collect for operations and debt service and to show the County Budget Commission how much levy is necessary to meet the district's obligations. The commission reviews filed tax budgets and certifies rates back to districts in the spring.
Terry walked the board through the exhibits in the tax-budget packet. Key figures he cited include: - Emergency/operating levy: estimated ~6.18 mills (down from approximately 13.95 mills when it was passed in 2011 because higher property valuations now produce the same dollar amount). - Bond retirement (debt service) mills: projected to fall from 6.10 last year to about 4.66 this year (roughly a 1.44-mill reduction). - Permanent improvement levy: fixed at 3.00 mills. - Outstanding bonded debt (as presented): roughly $94 million as of July 1, 2025, across multiple series (including 2016 and 2018 issues). - Projected bond-fund balances: about $10 million at the end of fiscal 2026 and approximately $7 million in the first half of fiscal 2027 to maintain cash flow for semiannual settlement timing.
Terry emphasized the balance the district seeks between collecting enough revenue to meet principal-and-interest obligations while avoiding collecting "more than you need" in carryover. He also noted the district has opportunistically refunded bonds in the past to save taxpayer dollars.
Board action: The board voted to approve the FY2026 tax budget and authorized staff to file the document with the county budget commission. The motion was moved by Mister Wallace and seconded by Mister Siebert; the roll-call vote recorded all members in favor.
Terry closed the public hearing and said the tax-budget packet and the five-year forecast are consistent and that the board will consider the county-certified rates at a March meeting before adopting final millage rates.
Ending: The approved tax budget will be filed with the Warren County Budget Commission for review and certification, after which the board will consider the commission's certified rates in March and adopt final rates by the state deadline in April.
