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Treasurer reports lower cash balance and budget variances; board approves new STEM fund and small grants
Summary
Treasurer reported October financials showing lower cash balances compared with the prior year, timing variances in revenue collections, and areas of higher spending. The board approved a new fund for an Ohio STEM grant at Chapman and two small grants as part of the consent calendar.
Treasurer George reported the district’s October financial update to the board on Nov. 20, 2025. Year‑to‑date revenues were approximately $3.1 million lower than the prior year, expenditures about $2.3 million higher, and the projected cash balance was roughly $8.6 million lower than the previous year’s level. The treasurer explained much of the variance reflects timing (for example, homestead and rollback reimbursements arriving in September instead of October), but also noted areas of permanent increase such as utilities, professional services (nurses, OT/PT), and special‑education placements.
Key budget points: Compared with the district forecast, revenues were trending about $1.2 million more favorable and expenditures about $1.6 million more favorable, producing a net forecast variance that staff estimated could reduce projected deficit spenddown; nonetheless the district is projecting a multi‑million dollar drawdown of cash versus last fiscal year. The treasurer highlighted two one‑time revenue items that improved November results: an unexpected county reimbursement of approximately $882,000 and a state performance bonus (~$300,000) tied to the district’s rating.
Consent approvals: As part of the consent calendar the board approved the creation of a new fund (Fund 19, cost center 9110) to account for an Ohio STEM Learning Network STEM grant at Chapman Elementary. The board also approved two grant awards: a Chapman STEM classroom grant for $2,500 and an SAR SEF award for the Air Arrow Garden for $3,289. These items were included in the consent calendar adopted unanimously by roll call.
Why it matters: The monthly report highlights both timing issues and structural cost drivers (salaries/benefits and special‑education placements) that the board and administration said they will continue to monitor. The treasurer noted recent legislative and administrative changes that moved forecast deadlines earlier and could affect tax budgets and county budget‑commission interactions in the coming year.
Next steps: Staff will continue monthly monitoring and return to the board with forecast updates; the treasurer flagged that earlier tax‑budget deadlines and changing county processes may require additional board attention around certification and tax budgeting in early 2026.
