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Coventry Local reviews five-year forecast; board hears plans for SRO, ADA work and theater upgrades
Summary
The treasurer presented a five-year forecast showing $24.7 million projected revenue for the current year, planned capital projects including ADA access work, network upgrades and theater carpet replacement (partly grant-funded), and an SRO budget for a half-year implementation this school year.
The Coventry Local Board of Education reviewed a five-year financial forecast and discussed priorities for capital projects and staffing during its Nov. 20 meeting.
Treasurer remarks summarized revenue and expense projections across five years and said the district ended FY24 stronger than projected. "We have projected that we will receive $24,700,000 in revenue this year," the treasurer said. Board members noted that the forecast shows positive balances in FY25–26 but projects that expenditures will exceed revenues beginning in FY27 unless adjustments are made.
Planned capital work in the forecast includes replacement of playground equipment, ADA seating and access ramps to bring portions of the high school into compliance, a network upgrade and replacement of classroom and smart-board technology. The forecast also notes the final modular payment for prior purchases is scheduled for 2028. The treasurer told trustees the district has budgeted for a school resource officer (SRO) for roughly half of the 2024–25 year pending implementation decisions.
The treasurer also asked the board to approve a renewal of the district's travelers' policy for scheduled positions (exhibit T3) and to authorize payment of workers' compensation insurance for 2025 at an estimated annual rate of $26,970; the treasurer noted a 2% discount if the workers' compensation payment is paid in full by Dec. 23, 2024. The board discussed timing and verification of project cost estimates and asked staff for additional detail on proposed painting and structural repairs at the elementary site, which trustees flagged as potentially requiring more than surface painting.
The board did not take action beyond approving the treasurer's listed financial items on the consent agenda; members encouraged staff to return with firm project scopes and cost estimates before authorizing larger capital expenditures.
The treasurer provided a written forecast and a notes-and-assumptions document to board members and agreed to circulate a slide presentation via the district's shared drive for members who wanted additional detail.
