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Tipp City board adopts FY2025 final appropriations, approves FY2026 temporary budget and authorizes short‑term advances
Summary
The Tipp City Exempted Village School District board approved final appropriations for FY2025, passed FY2026 temporary appropriations and authorized advances to cover possible grant timing shortfalls, after treasurer reported revenues at 97.6% and an unexpected Medicaid settlement payment.
The Tipp City Exempted Village School District Board approved several budget measures Wednesday night, adopting final appropriations for fiscal year 2025, approving temporary appropriations for fiscal year 2026 and authorizing the treasurer to advance funds if grant reimbursements do not arrive by the fiscal year end.
Treasurer Stevens told the board that as of May 31 the district had collected roughly 97.6% of expected revenues and received an unanticipated Medicaid settlement payment he said came from prior years. “We actually received funding from 2021‑22,” Stevens said, explaining the timing had produced a one‑time boost. He also warned that several restricted reimbursements, including the science‑of‑reading reimbursement, are delayed until July.
Board members moved to approve the FY2025 final appropriations after Stevens explained payroll adjustments tied to recent retirements and appropriations for the OFCC (Ohio Facilities Construction Commission) project and the bus garage. The motion passed on a roll‑call vote.
The board then passed temporary appropriations for FY2026, which Stevens described as a preliminary budget that can be adjusted before final submission to the county in September. Stevens said the temporary plan ties to the district’s five‑year forecast and reflected transfers and bond amortization schedules the board had previously discussed.
To avoid negative balances in grant funds in the event state or federal reimbursements are delayed, the board also authorized the treasurer to advance funds from the general fund to local, state and federal grant funds through June 30, 2025 and return money once reimbursements arrive. Stevens said roughly $376,000 in reimbursements were pending and advances would only be used if those funds did not post before the fiscal close.
What happens next: the temporary appropriations can be revised before the final budget is filed in September; the board will review updated figures as reimbursements and the five‑year forecast evolve.
