Treasurer reports improving cash trends, Moody outlook; legislative funding still uncertain

The Ravenna City treasurer gave a financial update noting continued uncertainty around state funding but generally favorable district trends.

The treasurer said the governor nd later legislative actions produced line-item veto activity that left several funding items unresolved; the district is awaiting confirmation before amending its financial forecast. The treasurer reported the district received a Moody credit report (described as lagging data) that kept the current rating steady because prior-year fiscal oversight and deficit spending remain in the record. Administrators said they expect Moody to reflect a higher rating in the next scheduled report after the district exits fiscal oversight and posts a positive fund balance.

Comparing September 2025 to September 2024, the treasurer said revenue was lower year-over-year but expenditures were approximately $661,819 lower; overall cash balances were better than anticipated and trending favorably. A later comparison of current actuals versus forecast showed revenue trending favorable by about $313,000 and expenditures trending favorable by roughly $1.2 million, producing a net positive cash position of approximately $1.5 million above earlier expectations. The treasurer cautioned that earlier-than-usual forecast timing (August versus the typical November forecasting schedule) reduced available payroll and expenditure data and that the February forecast will refine figures further.

The treasurer said the September financials and related charts will be posted on the district website.