Treasurer: Warren City Schools projects $72.4 million year‑end balance, warns of tighter years ahead

Mrs. Cortino, the district treasurer, presented the Warren City School District’s November update to its five‑year financial forecast and laid out the assumptions behind projected revenues and expenditures.

She said the district began the fiscal year with a $69.6 million general fund balance and "we are projecting that at the end of this year, we will have a $72,400,000 general fund balance," reflecting projected revenues of about $77.77 million and expenditures near $75.0 million, or roughly a $2.7 million gain for the year. Mrs. Cortino told the board that about 75% of the district’s funding — roughly $58.0 million in the forecast — comes from the state, and the forecast incorporates the Fair School Funding phase‑in (66.67% in 2025, 83.33% in 2026 and an assumed 100% by 2027) as a planning assumption.

The nut graf: the forecast shows short‑term stability but warns of declining cash balances by the end of the five‑year window if current assumptions hold. The district projects cash declines into 2028–29 as an emergency levy (noted in the presentation as $1.9 million) does not recur in the out years and inflationary pressures push expenditures higher.

In outlining revenue mixes, Mrs. Cortino said local property tax revenue makes up about $14.0 million (including real estate and public utility taxes) and that "6 percent is all other revenue," largely interest income as the district has built reserve balances. She also said new rental income from leased facility space was included in forecasted revenues. On expenditures, the treasurer noted personnel costs (salaries and benefits) account for about 74% of general fund spending — more than $55 million in the forecast — and that the district assumes a conservative annual increase of approximately 5% for supply and operating costs. Days of cash on hand were highlighted as a strength: the district projects more than a year (354 days) of cash on hand in 2025 and still projects above 230 days in 2029.

Board members pressed for enrollment context. Mrs. Cortino and Superintendent Mr. Shiro said the district has experienced an enrollment uptick driven in part by a larger kindergarten class (roughly +40 students this year) and shifting neighborhood patterns; they also cited the local private school’s changed marketing footprint and some students returning from remote learning as contributing factors. Mrs. Cortino said per‑pupil general fund expenditures are about $17,020 in 2025 (noting this excludes grant‑funded spending) and projected to rise toward roughly $21,000 through 2029 under conservative assumptions.

The board approved the formal five‑year projection resolution later in the meeting. The treasurer emphasized the forecast is a planning tool and that years three through five are intentionally conservative; she recommended ongoing monitoring and potential operational adjustments if revenues or enrollment trends change.

The board thanked Mrs. Cortino for the presentation and had no further immediate direction; the forecast will be revisited in May 2025 as part of the regular update cycle.