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Mount Healthy City Board approves updated financial forecast and FRP; levy remains central to solvency plan
Summary
The Mount Healthy City Board of Education unanimously approved a February financial forecast update and components of a new Financial Recovery Plan workbook after staff reported a projected FY27 improvement but persistent deficits in later years. The board also approved personnel and contract items tied to the recovery work.
The Mount Healthy City Board of Education unanimously approved an updated February financial forecast and elements of a new Financial Recovery Plan (FRP) workbook during its public meeting, continuing a months-long effort to stabilize the district's finances.
Treasury-level staff presented year-to-date reconciliations and a cash summary showing a fund-balance printout of 6,144,176.31; they said cleanup work on older outstanding checks is ongoing. Staff also explained that tighter assumptions for purchase services and other adjustments moved the FY27 projection from a previously discussed shortfall to a projected surplus of about $300,000 for FY27, though FY28 and FY29 still show projected deficits (approximately $1.4 million and $2.1 million, respectively).
The change in FY27 projections is tied to several factors staff detailed in the FRP workbook: a reduction in purchase-service forecasts, changes in revenue assumptions, and one-time timing differences. Administration emphasized the FRP directive from the state commission to eliminate a $1.5 million projected deficit through expenditure reductions, revenue enhancements or revised assumptions. Board members and staff stressed that the May levy on the ballot is a key factor in longer-term solvency planning.
Board members asked for and received explanations of the forecast lines, including capital outlay policy, curriculum and technology replacement cycles, and the role of grant funds. The board approved the forecast update, the FRP workbook's projection analysis and the FRP assumptions worksheet in a single vote; the motion passed unanimously (Miss Anderson, Miss Balden Bryant, Miss Butler, Mr. Frasier, Mr. Kilgore all voted "yes").
The board also approved related financial actions on the agenda: acceptance of the monthly reconciliations and cash reports; approval of listed contracts and purchase orders; and approval of personnel items, including the formal appointment of Kristen Yansy as district treasurer. After an executive session on personnel and legal matters, the board added and then approved renewal of the superintendent's contract.
Administration warned that while the current forecast shows near-term improvement, the district still faces structural pressure in later years if revenues (notably state aid) remain flat. Staff noted that the FRP will produce 10 analytical reports for the commission in March to identify specific expenditure or revenue actions to meet the $1.5 million directive.
What happens next: staff will continue to populate the FRP workbook with plan items and the analytic reports requested by the commission; the district will also move forward with community outreach related to the May levy and present more detailed plan items at upcoming meetings.
