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Ravenna treasurer: February finances show timing-driven cash improvement; board briefed on three pending state levy bills
Summary
Treasurer reported revenues above forecast by about $84,000 and expenditures down roughly $196,000, producing a timing-related $280,000 increase in cash on hand; the treasurer also summarized three proposed state House bills that would change levy renewal rules and voting thresholds.
During the March 23 meeting the district treasurer presented the February financial report and highlighted a timing-driven increase in cash on hand. "Our revenue is exceeding our projected forecast by a little over $84,000," the treasurer said, adding that expenditures were down about $196,000 and the result was an apparent $280,000 increase in cash on hand that staff expect will normalize in coming months.
The treasurer also reminded the board that proceeds from any building sale (such as the approved Tappan Elementary sale) must be deposited into the district's PI fund and used only for facilities maintenance, renovation or purchase. "I just wanted to make sure that everyone's aware of that," the treasurer said.
Separately, the treasurer briefed the board on three proposed state House bills described in the presentation as a 'trilogy.' The bills would (as explained to the board) require periodic reauthorization of continuing levies (HB 420), permit initiative petitions to reduce the inside millage (HB 421), and raise approval thresholds for property-tax levies (HB 422) from majority to higher percentages depending on levy type.
Treasurer and board members discussed the proposals in general terms but did not take a formal position during the meeting. Administrators said they will monitor the bills' progress and report back to the board if legislative changes require district action.
