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Passage of Issue 48 moves Garfield Heights into a small surplus, treasurer says

Garfield Heights Board of Education ยท November 10, 2025

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Summary

The board heard that passage of Issue 48 will reclassify levy proceeds into the districts general forecast and produce a modest surplus; the treasurer also presented resolution 2025-47 to collect property tax advances in January/February ahead of the March settlement.

During the Nov. 10 meeting, the district treasurer updated the board on the financial impact of Issue 48the renewal levy voters approved in the recent election.

The treasurer said October financial statements will look markedly different in November because levy revenue from Issue 48 will be moved from forecast line 12.01 into line 1.01, and that the district is currently running a small surplus now that the levy passed. The treasurer added that the district has drawn down grant funds successfully (about 12% expended/reimbursed through October) and that ongoing federal shutdowns had not affected the districts grant draw-downs so far.

Resolution 2025-47: The treasurer introduced Resolution 2025-47, the annual board resolution that allows the district to collect property tax advances in January and February instead of waiting for the March settlement, giving cash flow to cover payroll and bond payments in those months.

Why it matters: Reclassifying levy receipts and securing tax advances improves short-term cash flow and reduces the risk of gaps around large December/January outlays, including bond and payroll obligations. The treasurer emphasized fiscal responsibility and thanked taxpayers for supporting Issue 48.