Akron board approves July financial report, discusses upcoming levy and contract timing

The Akron Public School Board on Aug. 26 approved the district’s July 2024 financial report and discussed future levy timing and the fiscal impact of multi-year labor agreements.

Dr. Thompson, the district treasurer, presented the monthly report and said the first month of the fiscal year represents about 8% of the year. He noted an apparent $2,600,000 shortfall in the published report that resulted from inter-year timing and transfers rather than a true operational deficit.

During questioning, Member Hall asked whether the district would be “paying forever” for past contract negotiations and whether another levy would be necessary after the current one. Dr. Thompson explained the district signs three-year contracts and described state funding mechanisms — referencing a revenue-freeze framework that typically returns districts to the ballot every few years — and said the district would prepare for forthcoming negotiations.

Mr. Perry, reporting for the Finance and Capital Management Committee, said the district hopes to place a levy on the November ballot; an issue number was expected in early September. He listed community supporters including Summa Health and Children’s Hospital and said further details will be released when the levy issue number is set.

Mr. Perry moved to approve the July financial report and Dr. Molnar seconded. The board took a roll-call vote and the motion carried 6–0.

The treasurer invited board members or members of the public to review financials in greater detail at committee meetings or by appointment.