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Sycamore board hears treasurer detail $853,500 TIF refund, rising transportation and utility costs
Summary
The board received a monthly financial report noting a $853,500 refund tied to a Blue Ash TIF overvaluation, rising purchased-services costs (nearly 13%), and proposals to audit TIF districts and examine transportation spending.
The Sycamore Community City Board of Education was briefed June 30 on the district's monthly financial report and a recent adjustment tied to a long-standing tax-increment financing (TIF) arrangement.
Finance staff described a refund triggered by a Hamilton County Board of Revision decision that reduced valuations for three office buildings in a Blue Ash TIF. "We had to refund the amount that we'd already received in relation to this TIF," an administrator said, explaining the district received higher payments that were later adjusted when the properties' valuations were reduced. Administration cited an approximate overvaluation of "about 30 or 40%" and said the district refunded roughly $853,500 to reconcile prior receipts.
Treasurer and finance staff also highlighted budget pressures: year-to-date increases in certified wages (noted as about 2.47% since September), an 8% rise in benefits, and a 12.93% increase in purchased services compared with projections. The board discussed drivers of purchased-services growth, citing utility spikes, special-education transportation costs and contract services for students with disabilities.
Board members pressed administration on whether the Blue Ash valuation issue reflected a broader auditing trend after the pandemic; finance staff and counsel said there could be other overvaluations and recommended closer monitoring. The administration reported it has a proposal from a TIF review firm (a TIF-tracking tool) to audit and monitor the district's 24 TIF districts for a one-time fee (proposal range discussed at roughly $30,000—3,000) and recommended the board consider the service when the treasurer is in place.
The board also discussed long-term cost-control options for transportation, including purchasing vans to reduce contracted van services and the infrastructure needed for electric buses. Administration said the transportation compound is electrically provisioned for future electric bus charging, but vehicle and peak-demand costs make immediate electrification impractical. Officials said permanent-improvement funds have been used selectively for some van purchases but that operational dollars remain constrained.
Board members asked administration to return with a five-year purchased-services analysis and suggested a presentation from the proposed TIF-review vendor to determine whether retroactive claims or collection shortfalls exist.
The board approved the monthly financial report and several year-end actions, including final FY2026 appropriations and temporary FY2027 appropriations to allow spending to continue in July.
