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Treasurer says state prorated science-of-reading stipends; Kent City Schools lost $11,000 from December payment
Summary
The board heard that the Ohio Department of Education prorated science‑of‑reading stipend reimbursements to 92.5% and the district saw an $11,000 reduction in its December payment; trustees were told this complicates cash forecasting.
Aaron Van Meter, treasurer for Kent City Schools, told trustees on Jan. 13 that the December settlement report from the Ohio Department of Education reconciled science‑of‑reading stipend reimbursements and resulted in a statewide proration. Van Meter said reimbursements were prorated to 92.5% because total reimbursement requests exceeded the $86,000,000 appropriation.
"They took $11,000 from our second payment in December," Van Meter said, describing the adjustment as unexpected and frustrating for forecasting. He explained the department initially set stipend amounts at $1,200 and $400 and also covered employer retirement and Medicare contributions, and that proration was necessary to stay within appropriation limits while distributing funds equitably.
Van Meter urged trustees to view the change in the context of the district’s cash flow: the district typically draws down cash through January until real estate tax advances arrive in February, so timing and state reconciliations can affect forecasts. He also reported a new arrangement to earn interest on some operating funds with Huntington Bank that will appear on investment reports going forward.
The board had no immediate action beyond noting the fiscal impact and continued regular budget oversight processes.
