Treasurer says $3.5 million cash error left Mount Healthy facing deficit; board approves financial recovery plan

An interim district treasurer told the Mount Healthy City Schools Board of Education that the district's June 30, 2023 general-fund cash balance had been misstated by roughly $3.5 million, a discrepancy she said was later corrected on a resubmitted forecast and that has left the district in a multi-year deficit position.

The treasurer (name not specified), speaking during the board's regular meeting, said she pulled the district's posted five-year forecast from the Ohio Department of Education website and ran a bank-style cash summary report for June 30, 2023. "I was shocked that our balance was 4,900,000.0. It was not that 8,004 8,000,400 number," she said. "It is my opinion that this district was really misled by whoever was treasurer. ... The board and Valerie and her team really were misinformed of the finances." She told the board her last day would be the upcoming Friday and that Board Member Chuck Sol would take over fiscal duties.

Why it matters: the board must submit a five-year forecast to the Ohio Department of…