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Board approves finance consent items; CFO outlines stadium transfer, federal grant and timing of reimbursements
Summary
The board approved routine finance measures Oct. 22 and heard staff explain a transfer of some construction‑related funds into the district’s stadium fund to allow more flexible use for purchases tied to the new campus and stadium.
The Cuyahoga Falls Board of Education approved routine finance items Oct. 22, including amended appropriations and the monthly investment schedule, while district finance staff outlined a transfer of building-related funds into the stadium fund to provide flexibility for construction‑related purchases.
Treasury/CFO staff told the board the district received the exact federal grant allotment for one employee through the Sixth District; the amount was slightly higher than anticipated. The CFO said some funds now recorded as a general Local Facilities Improvement (LFI) line item must be shifted into a separate stadium fund because stadium-related expenses are not processed through the OFCC (Ohio Facilities Construction Commission) LFI/OAKS system in the same way as other state‑reported building costs.
"We received our actual allotment for the federal grant we received," the treasurer/CFO said, calling the difference "a little bit more than what we had anticipated." Staff explained the transfer gives the district more flexibility to cover stadium expenses such as digital scoreboards and other items while remaining compliant with state reporting.
The board also reviewed routine student activity and principal account purpose-and-goal statements and accepted a package of donations across the district, from local groups such as the American Legion and DAR and gifts from Amazon wish lists.
Finance staff reported the district’s cash balances were seasonally higher in September and that interest income was the best month so far this fiscal year. Athletics receipts rose in September, helped by stadium events, and food-service operations remain timing‑sensitive because federal reimbursement claims typically arrive after the district spends for August and September meals.
Board members asked clarifying questions about kindergarten projection assumptions (for boundary planning), the timing for posting boundary scenario materials online and the district’s plan to provide larger, ADA‑compliant maps for the public. The board voted to approve the treasurer/CFO consent agenda and the September 2025 investment schedule and monthly spending report by roll call.
Votes at a glance: The board approved (by roll call) the agenda and adopted the treasurer/CFO consent agenda, accepted the September investment schedule and monthly spending report, and approved the superintendent’s consent agenda and personnel items later in the meeting. No contested votes were recorded in the meeting transcript.
