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Solon board approves fiscal-year closing actions and $8.75 million appropriations adjustment
Summary
The Solon Board of Education approved a package of fiscal-year closing and temporary-budget actions June 30, including $8,746,041.19 in revised appropriations (largely for permanent-improvement capital work) and temporary appropriations to allow purchasing on July 1.
The Solon Board of Education on June 30 approved a set of year-end fiscal actions to close out fiscal year 2026 and establish temporary appropriations for fiscal year 2027.
Treasurer staff told the board the revised appropriations to close the year include a $1 million increase in the general fund and an $8 million increase in the permanent improvement fund for capital projects, producing a total appropriations increase of $8,746,041.19. The presenter said the district had drawn down operating funds for capital projects and moved remaining work into the permanent improvement fund once reserves reached their board-defined minimum.
Board members also approved payment of bills totaling $321,600.18. The treasurer highlighted line items that included security purchases, athletic purchases and a natatorium restoration payment (payment 12) with one retainage remaining.
To enable operations on July 1, the board approved temporary appropriations for fiscal year 2027. The presenter explained the district’s current-year appropriations were about $120,049,532.38 while the recommended appropriations for the coming year are approximately $113,343,374.61, a decline driven largely by the completion of major capital projects.
The board also authorized the treasurer to request an advance of tax collections from the county for 2027 to help district cash flow during the collection period; the presenter explained that the county distributes tax receipts across collection cycles and that the advance helps smooth cash availability for the district.
The board’s actions were presented as routine end-of-year business; each motion was moved, seconded and approved by roll call.
