Vermilion Local board approves April finances, expands capital‑project transfer authority amid deficit projections

The Vermilion Local School District Board of Education on May 12 approved its April financial report, accepted several donations and voted to expand the district's authority to transfer funds into its 070 capital projects account to cover urgent facilities work.

Treasurer Justin presented the district's April snapshot, reporting $26,500,000 in general‑fund revenue through April, compared with about $24,000,000 at the same point last year, and $29,000,000 in all‑fund revenue. Justin said the general fund had expended $22,200,000 through April and held roughly $20,500,000 in cash. He noted a $600,000 homestead rollback payment from Erie County and higher interest income this year: $599,796.32 in interest versus $527,905.25 last year.

"Through the month of April, we have received $26,500,000 in general fund revenue," Justin said, reporting the line‑by‑line figures the board reviewed.

The board approved the financial report on a motion moved by Board member (Student liaison) Nick and seconded by Chris; the roll call recorded the motion as approved, 5‑0.

The board also approved two donations described in the agenda: $1,000 from Don Babson to the Ed Babson Scholarship Fund and $15.20 from the Vermilion Athletic Boosters to the National Honor Society.

Justin asked the board to approve a change to the district's 070 Capital Projects Fund rules. He said the fund was originally established with a $2,000,000 transfer limit (funding used to replace a roof and HVAC at SMS) but the district may need to move larger sums from ESSER or general funds because a proposed bond did not pass. "That $2,000,000 went to replace the roof at SMS and replace the entire HVAC system at SMS," Justin said, and the proposed resolution would allow transfers of up to $11,000,000 into the capital fund so the district can earmark money for necessary projects without waiting for bond approval. Board members confirmed that money transferred into the fund can be transferred back to the general fund if the project does not occur within the 10‑year window.

On the forecast, Justin told the board the district is projecting deficits if current service levels continue: "We're deficit spending in 2025 by $7,800,000 and then in 2026 by $2,300,000," he said, noting those figures reflect planned transfers and current staffing and operating levels. The forecast shows smaller but continuing deficits through 2029 unless the district reduces expenditures or increases revenue.

The board approved the capital‑fund resolution and the five‑year forecast by unanimous roll calls. Justin and board members stressed the numbers are projections, subject to state funding changes and legislative outcomes.

The board set future regular meetings for June 9, July 14 and August 11 in the Vermilion High School Commons.