Treasurer warns of looming deficit, projects general-fund cash decline; board moves to executive session

The district treasurer presented the required five-year forecast and told the board the report will be posted on the district website after board approval.

The treasurer described revenue assumptions (local sources roughly 79% of revenue, state aid about 15% including homestead/rollback) and explained how House Bill 920 reduces effective millage as property valuations increase. She noted that recent levies pass at a higher voted millage but collect at a reduced effective rate after valuation changes.

On expenditures, the treasurer said personnel costs account for about 75% of expenditures, with salaries and wages about 55% and purchased services near 12%. She told the board the district expects a 5% annual increase in benefits costs in the near-term projection. "We are going to start deficit spending this year," the treasurer said, and she showed projected cash-balance declines; she told the board the general-fund cash balance is projected to be around $7,000,000 by the end of 2029.

Board members asked about days-of-cash-on-hand guidance; the treasurer said she does not propose a hard policy but that 90 days would be the minimum comfort level for her. The treasurer emphasized the forecast is a living document that can be resubmitted if circumstances change.

At the end of the meeting a board member moved to enter executive session "in accordance with Ohio Revised Code 121.22 for the sole purpose of the consideration of . . . employment and discipline" of a public employer official. The motion carried on roll-call votes recorded as yes from Mrs. Hoy, Mrs. Miller, Dr. Sabo, Dr. Sleeper and Mrs. Bendel. The board said it would return and take any action after executive session.