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Solon Board approves state 4‑year forecast; treasurer warns levy may be needed as reserves fall
Summary
At its Oct. 13 meeting the Solon Board of Education approved submission of the state-mandated four‑year forecast (and the district's traditional five‑year forecast). District financial staff said cash reserves will fall over the next year and recommended the board begin levy planning for a May 2026 vote.
The Solon Board of Education on Monday approved submission of the state-required four‑year financial forecast and the district’s customary five‑year forecast, and heard a warning from district financial staff that a local levy may be needed within the next year to maintain services.
The forecasts were approved by unanimous roll call after a motion by Board member Barksdale and a second by Board member Patton. The board’s action was to submit the state four‑year forecast as required by the Ohio Revised Code; the district also provided its five‑year projection to the board and public.
District financial staff said the forecasts show a projected fund balance of about $24,000,000 on June 30, 2026, dropping to about $15,881,000 on June 30, 2027. The presenter said those…
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