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North Ridgeville City Schools forecast shows roughly $1.8 million surplus for FY25; board adopts November five-year projection
Summary
District staff presented the November 2024 five-year forecast showing projected FY25 general fund revenue of about $58.08 million, projected expenditures of about $56.30 million and a roughly $1.8 million surplus; the board approved the forecast and related finance reports by roll call.
A district staff member presented the North Ridgeville City Schools' November 2024 five-year forecast on Tuesday, telling the board the model projects roughly $58.08 million in general fund revenue for fiscal year 2025 and about $56.30 million in expenditures, leaving an estimated surplus of about $1.8 million for the year.
The presenter described the forecast as the administration's "road map," prepared from three years of historical data and five years of projections, and said real estate-related property tax revenue — including local residential and commercial valuations and utility assessments — remains the district's primary revenue driver. "Real estate stands as the primary revenue source," the staff member said, and the forecast includes the state's share of local taxes and the effect of a 2019 substitute levy the district still collects.
The presentation noted that the 2019 substitute levy will reach its first renewal window in 2029 and that the district's longer-term surplus narrows across the forecast period; by the last forecast year the surplus is projected to decline substantially. The presenter also emphasized that personnel costs remain the largest expenditure category, about four-fifths of costs, while purchase services are the next-largest line item.
Board members asked clarifying questions about per-pupil funding and the state contribution; the staff member reiterated that the district relies in part on guaranteed funding mechanisms and that future state-level legislative changes could alter timing or amounts of state support. One board member praised the administration's conservative approach, saying it keeps the district's cash balance in a healthy position.
After the presentation, the board voted to approve the October financial reports and adopt the November five-year forecast. The motion to approve the finance items was moved by Missus McCarthy and seconded by Missus Saxon; roll-call votes recorded the members present voting in the affirmative.
The administration said it will update the forecast again in May, the second required filing in the fiscal cycle, and the board will revisit assumptions and figures at that time.
