Silver Creek board hears CFO report on investments and warns of mounting revenue pressures

The Silver Creek School Corporation board met virtually on the evening of Jan. 30 and heard a detailed finance briefing from CFO Dr. Balmer that outlined the district's 2025 investment earnings and warned of potential revenue pressures ahead.

Dr. Balmer reviewed investment strategy and account performance, saying the district uses interest‑bearing checking, short CDs timed to bond payments and laddered portfolios for bond proceeds. “So a total amount Silver Creek earned, in all of its accounts, for '25 was $1,143,866.17,” Balmer said, listing checking‑account interest, CD returns and bond‑related interest that contributed to that total.

The presentation reviewed key fiscal indicators the board must monitor. Balmer noted special‑education and ELL populations have grown (special education to about 21.2% in 2025; ELL around 6.8%), and that fall enrollment changes and a modest projected spring drop could reduce ADM‑linked funding. He emphasized that fund balances measured in months of coverage have declined from about six months to roughly five months and urged continued monitoring of expenditures as staffing and inflation push costs upward.

Balmer highlighted several looming revenue challenges. Circuit‑breaker tax credits, which reduced levy collections by roughly $900,000 in 2025 (about 20% of the property‑tax levy compared with a much smaller initial exposure), are projected to rise. He also warned of possible future reductions tied to the scheduled loss of a local income tax stream (projected around $300,000) and anticipated property‑tax sharing with charter schools (on the order of $200,000+ when fully implemented). “We're potentially talking on losing 50% [to circuit breaker],” Balmer said, illustrating the scale of the exposure the district is planning around.

On debt and reserves, Balmer described the district's rainy‑day balance (reported in the presentation at about $1.2 million) and noted debt‑service funds are maintained to meet scheduled payments; he also noted remaining legacy common‑school loans and 2016 bonds that the district will pay off by 2033. A numerical transcription of the debt‑service balance in the meeting transcript appears inconsistent with other context; the district's official financial records should be consulted for the precise figure.

Balmer recommended continued cost‑savings moves (attrition, contract renegotiation and restructuring) and previewed a proposal to pilot a public‑surplus auction process for disposing of surplus items to save vendor fees. He reported about $1 million in identified savings to date from contract changes and attrition.

In brief business, the board approved prior meeting minutes (Jan. 28 and Jan. 12) and the consent agenda (personnel appointments, resignations and other routine items). The board also elected Mister Basham to continue as board president and Miss McDaniel as secretary. Board members offered thanks to a staff member named Susan, who is retiring later in the year and will remain with the district for several months before her departure.

What happens next: Balmer and staff said they will continue monitoring enrollment, circuit‑breaker impacts and assessed‑value changes tied to legislative actions (including implications from Senate Enrolled Act 1). The board scheduled future regular meetings and moved to executive session after adjourning the public meeting at 7:10 p.m.

Votes at a glance - Approval of Jan. 28, 2025 minutes: passed (recorded as 5-0). - Approval of Jan. 12, 2026 minutes: passed (recorded as 5-0). - Election of board president (Mister Basham): announced as approved (reported in meeting as 4 in favor to continue). - Election of board secretary (Miss McDaniel): approved (ayes recorded). - Consent agenda (personnel, finances, other routine items): passed 5-0.

Sources and attribution: Direct quotations and numerical figures in this report are drawn from remarks by Mister Balmer during the Silver Creek School Corporation meeting as recorded in the meeting transcript. Where a numeric value in the transcript appears inconsistent (debt‑service balance transcription), the article notes that the district's official records should be consulted for confirmation.