Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Treasurer reports December finances; warns state law changes could cut district revenue
Summary
The district treasurer reported December general fund revenues of $944,000 and investment earnings of $63,495, noted an EMIS error that temporarily pulled back career-tech funds, and said recent state bills and budget commission clarifications could reduce district revenues by more than $4.5 million over five years.
The Amanda-Clearcreek Local School District treasurer presented the December financial report and highlighted several items that the board will monitor as it prepares the forecast next month.
The treasurer said general fund revenues for December were $944,000 and that the district earned $63,495 in investment income for the month. He reported construction project payouts are nearly complete and that the district expects to move residual interest from a StoreOhio account into the general fund once final payouts clear.
The treasurer told the board that to date the district has received "1,375,000.000" in interest (as read during the meeting) and called attention to an EMIS/EMUS data error that temporarily made career-tech funds appear negative; the state is correcting that and the district "will be made whole," he said. He also said the state recalled $8,481 from a December payment tied to the science-of-reading reimbursements.
On statewide policy changes, a board member and the treasurer described recent house bills that expand or clarify the county budget commission's authority to review property-tax-related calculations and cap certain millage increases at inflation. The treasurer warned these changes "basically have reduced our revenues over the next 5 years by more than 4 and a half million dollars," and said staff will present a forecast and more detailed analysis at the next meeting.
Why it matters: The combination of one-time accounting adjustments and structural state law changes affects the district's revenue projections and the budget forecast the board must approve in coming weeks.
What's next: The board will receive a forecast next month and the treasurer said he will submit written materials for the county budget commission meeting and continue to track changes that could affect district levies and cash flow.
