Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Rittman board adopts FY2026 permanent appropriations, moves to cash-basis year-end reporting
Summary
The Rittman Board of Education approved FY2026 permanent appropriations, directed year-end financial statements be prepared on a cash basis rather than GAAP to free resources for education, and authorized a $109,756.47 transfer to the bond retirement fund.
The Rittman Board of Education on Sept. 10, 2025 approved the district’s FY2026 permanent appropriations and directed that year-end financial statements be prepared on a cash basis to reallocate resources previously used for GAAP preparation to education purposes. The action was included in the Treasurer’s consent agenda and passed unanimously.
Mrs. Avery, a board member, moved to approve the Treasurer consent agenda, which included the August financial reports and the adoption of FY2026 permanent appropriations. The motion, seconded by Mr. Beltz, carried on a board vote. The consent language also recorded a Board determination that preparing cash-basis statements would “accurately reflect the district’s financial position and allow for those resources previously spent on GAAP to be allocated to education purposes.”
Board members also approved a transfer of $109,756.47 from the Permanent Improvement Fund (003) to the Bond Retirement Fund (002) to cover payment of tax anticipation note interest and principal. The transfer and the other Treasurer consent items passed by recorded vote with all members present voting in favor.
The Treasurer consent agenda also listed donations and routine policy updates (see minutes). The board approved the items as presented during the meeting held at Heritage Hall’s Professional Development Room.
The board’s next regular meeting is scheduled for Oct. 8, 2025 at 7:30 a.m. in the Professional Development Room.
