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Lebanon board approves fiscal items, treasurer reports healthy cash position
Summary
The board approved financial items A–O, heard a May forecast showing about 134 days of operating cash and a near‑balanced budget, and approved a set of routine motions including minutes, graduates and personnel actions.
The Lebanon City Schools Board approved a package of financial items Monday that included amended appropriations, a certificate of estimated resources, temporary appropriations, donations, facility‑use approvals and an interlocal agreement with Hamilton County Educational Services.
Treasurer Irvin presented the May forecast and told the board the district is holding about 134 days of operating cash, above the target of roughly 120 days. He said the district has received about 97 percent of expected revenues and spent about 91 percent of budgeted expenses so far this fiscal year, and that a larger‑than‑expected TIF payment in May helped cash balances. "We're sitting at 134 days operating cash," he said; the treasurer estimated month‑end days‑cash would be about 123 days.
The board approved the financial items (A–O) by roll call. The consent package included donor recognition (Bowman PTO donated playground equipment), approval of Lebanon City Schools breakfast and lunch prices, and an agreement with Hamilton County Educational Services. The treasurer also described several "then and now" payments for vendors where purchase orders were not in place but funds were already budgeted.
Votes at a glance (motions approved by roll call): • Adopt agenda (motion carried; vote recorded as Dalton, Cope, McCutchen, Lane — yes). • Approve minutes (May 20 and June 11) — approved. • Approve financial items A–O — approved. • Approve first reading of policy 5136 — approved (see separate report). • Approve 2024 high school graduates — approved. • Approve personnel items A–O, including retirements, resignations, substitutes, supplemental contracts, volunteers, tutors, change of status, stipends, extended days and administrative contracts — approved.
The treasurer said revenues are largely driven by property tax receipts and that one remaining significant state foundation payment remains outstanding for the fiscal year. He invited questions and said staff will bring detailed advances and any required adjustments to the July meeting for final approval.
