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Westerville City district projects modest revenue gains from new earned-income tax but warns of long-term shortfall
Summary
District staff told the board an updated forecast includes revenue from a newly approved earned-income tax that will partly phase in by 2028, but rising costs and uncertain state/federal funding could leave the district about $10 million short of its 90-day reserve target by 2030.
Westerville City (Regular School District) officials presented an updated financial forecast on Feb. 9, 2026, showing partial revenue from a newly approved earned-income tax but projecting the district will fall short of its 90-day operating cash reserve by 2030 if current trends continue. Nicole, the district presenter, said the document is intended as a long-range planning tool and the basis for signing the Ohio Revised Code 5705.412 certificate that governs appropriations and long-term contracts.
The forecast reflects recent statutory changes in House Bill 96 that altered the filing structure from a five-year forecast to the current-year budget plus a three-year projection. "The purpose of the forecast is that it is a valuable long range planning tool," Nicole said in the presentation, which the board heard as a recorded voiceover. Staff added the board had voted to continue receiving multi-year projections as a…
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