Riverside committee flags levy need as five‑year forecast, COPS/TANs plan draw concern

Summary

Finance and personnel committee members reviewed a compressed five‑year forecast required by state law, were warned the district will drop below its 90‑day cash‑reserve policy within a few years, and debated a proposed COPS/TANs permanent‑improvement debt authorization that some members said was premature without full cost data.

Riverside Local’s Finance & Personnel Committee on Thursday reviewed a compressed five‑year forecast required under recent state law changes and discussed a pending resolution to authorize short‑term debt (COPS/TANs) for permanent improvement projects, including an eight‑classroom addition and gym work at Buckeye Elementary.

The committee’s finance presenter framed the forecast as an early‑warning tool and said changes to state reporting under House Bill 96 and Ohio Revised Code requirements are shrinking the lookback and forecast windows. The presenter said the forecast will be filed with the state by Oct. 15 and noted the district’s board policy calls for a 90‑day cash reserve; under current projections the district could fall below that target by fiscal 2027–2028.

Committee members pressed for more detail before any borrowing. The board president has placed a COPS/TANs resolution on the upcoming board agenda that would cap annual debt service at about $825,000; the administration said market rates will determine how much principal that cap supports and estimated potential principal in the $12 million–$14 million range but said final numbers…

Riverside committee flags levy need as five‑year forecast, COPS/TANs plan draw concern

Summary

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