Vermilion Local approves alternative tax budget and resolution to seek $47 million in school improvement bonds on May ballot

At the Jan. 13 meeting the Vermilion Local School District board approved its alternative tax budget for fiscal 2025–26 and authorized the submission of a school improvement bond question totaling $47,000,000 to the electors on May 6, 2025.

The treasurer presented December 2024 financials: general fund revenue of about $12.5 million, all-funds revenue of $13.7 million and all-funds cash on hand of $17.7 million. He noted district receipts including $314,000 net from sale of a building (Decatur) and $263,000 from trading back laptops to Apple. The treasurer said general fund expenditures through December were approximately $13.9 million and that the district is projecting increased capital spending that will reduce ending cash balances.

Board members then reviewed and approved the alternative tax budget (attachment B) and the treasurer recommended proceeding with a resolution to submit the bond issue question under Section 133.18 of the Revised Code for a May 6, 2025 special election. The board approved the resolution on a recorded vote of 4-0. The treasurer explained that some timing steps in the election and reporting process require early board action so items could be submitted to the county auditor and other agencies by statutory deadlines.

The actions taken do not themselves authorize bond sale or set tax rates; they send the question to voters and initiate required administrative filings. The transcript records the motion language to submit a ballot question for issuance of bonds in the aggregate principal amount of $47,000,000 and notes the May 6, 2025 election date.