Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Solon district’s five-year forecast shows slim cushion; superintendent warns levy failure would trigger multi‑million shortfall
Summary
The Solon Board of Education approved its five-year forecast showing a $235,839 unencumbered positive balance for fiscal year 2028 but the superintendent said the district could face a multi‑million-dollar deficit if a proposed 6.9‑mill operating levy fails.
The Solon Board of Education on April 13 approved the district’s five‑year financial forecast, which staff said leaves an unencumbered positive fund balance of $235,839 as of June 30, 2028.
“The forecast calls for a $235,839 positive fund balance unencumbered at 06/30/2028,” the superintendent said during the presentation, noting the forecast incorporates a $2,000,000 carryover adjustment in purchase orders to improve the district’s near‑term cash position. The board moved and seconded the submission and approved it.
The superintendent told trustees the revision is intended to buy more time while the district monitors revenue. He warned that if the operating levy under consideration does not pass, the district could face a far larger shortfall in the subsequent year. “If it doesn’t, then you can see the very next year we’re at $15,000,000 in excess as far as a complete cash deficit…that’s approaching $16,000,000 of deficit,” he said, adding that the board would have to develop a significant plan for the state of Ohio if levy revenue does not materialize.
Board members were also reminded of legal limits on advocacy at meetings; the superintendent said the district has held about six informational sessions and that a citizen‑led committee is assisting with public outreach. He described the levy as a 6.9‑mill operating request and said it would cost roughly $242 per $100,000 of county market value.
The board’s approval authorizes the district to file the forecast with the state as required by the Ohio Revised Code. The superintendent and staff said they will continue outreach and monitoring; the board must consider further policy or budget options if levy outcomes or revenue projections change.
Next steps: the forecast has been filed and the district will continue community information sessions and track levy results; board members said they will revisit budget options if revenues fall short.
