The Canal Winchester Local School District treasurer on Monday told the board that while some revenue lines look stable, the district faces short-term uncertainty tied to a Fairfield County reappraisal and several state proposals on property-tax reform.

"The biggest thing for us on this forecast in this current year is the property taxes," Treasurer Nick said. He said the county’s reappraisal could affect bills issued in January or February and that proposals in the Ohio Legislature might change how levies contribute to a district’s effective millage floor.

Nick reported year-to-date increases in income-tax settlements (about $99,000 higher on the year) and said interest earnings from a staged investment strategy of roughly $15 million in bond proceeds could produce nearly $1 million over time to help offset project deficits. He said expenditures are being monitored and that year-over-year spending trends are manageable, but cautioned the board to watch property-tax developments that could reduce revenue by an estimated $500,000 to $1 million depending on how legislation and county actions proceed.

The treasurer said the district staged bond-proceeds investments to match project start dates and will continue to roll maturities as projects move forward. "We staggered the bond proceeds ... we invested the full $15,000,000 out until December," he said, describing reinvestments and planned use of earnings toward the capital program.

Board members asked about the life and term of loan proceeds, possible timing of property-tax decisions, and the board’s exposure to state-level proposals. The treasurer said he expects decisions on tax reform to be imminent and urged prudence in budgeting while administration continues updating the forecast.

The update framed upcoming budget decisions and project planning; the board did not take a vote on budget policy at the meeting but asked for continued monitoring and updated forecasts.