Solon Board approves state 4‑year forecast; treasurer warns levy may be needed as reserves fall

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 figures reflect deliberate use of reserves for building infrastructure after previously building cash reserves to offset the phaseout of Tangible Personal Property (TPP) tax reimbursements.

The district presenter (listed in the meeting as the treasurer/staff presenter) told the board that if the district pursues a levy for the May 2026 ballot, the board would likely need to adopt a first resolution by December 2025 and a second/final resolution in January 2026 to meet election timelines. The presenter emphasized that the forecast submission itself is a required filing and “has nothing to do with the levy” procedurally, but allowed discussion about timing and the district’s financial condition.

Board members pressed for context and for public communication about potential timing if a levy were considered. One board member flagged recent state actions that reduced the district’s TPP revenue by roughly 17–18% during the phaseout and said that state policy choices have increased the district’s reliance on property taxes. The board also discussed the uneven effect of state funding across Ohio districts and raised concern about proposed legislation (House Bill 309) that would expand county budget commission authority to modify levies or reduce millage when the commission deems funds “unnecessary.” A board member characterized HB 309 as a potential threat to locally elected authority and said the district will communicate with the community as the bill moves through the legislature.

Superintendent and board members noted the district’s historical approach of keeping reserves modest compared with some districts and reiterated that the forecasts reflect intentionally drawing down reserves to invest in infrastructure while maintaining operations. The presenter said projected state formula funding increases are modest in Solon because the district remains heavily property‑tax reliant, and that uncertainty about voucher and charter‑school funding adds forecasting risk.

The board approved the forecast submission as recommended. No specific levy resolution was adopted at the meeting; board members said further public conversations and planning will follow if the district pursues a ballot measure.

The board will next meet Oct. 27 at 6 p.m., when any levy timing or related resolutions would be considered if brought forward.