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Board approves May financials, year‑end transfers and $159M in supplemental appropriations
Summary
Treasurer reported May financials showing roughly $108M in revenues and $92M in expenditures year‑to‑date; the board approved fund transfers, return/advance actions and final supplemental appropriations totaling $159 million.
The Medina City Schools board approved the treasurer’s financial report for May, a series of year‑end fund transfers and supplemental appropriations that close out fiscal year 2025‑26, the board heard.
Mr. Chambers reviewed the May financials and the finance committee’s recent discussion. He said the district began the year with about $41 million, reported roughly $108 million in revenues and about $92 million in expenditures through May. Personnel services were about $51 million (noted as 2.2% above last year), benefits $21 million (reported up about 13.2%), and investments were approximately $2.158 million. Mr. Chambers said the district’s days‑cash‑on‑hand was roughly 75 days.
The board was told that year‑end fund transfers largely move individual activity account balances (particularly athletics) into centralized activity funds. The treasurer presented the return of prior advances to title funds and advances from the general fund to title funds as required. The final supplemental appropriations presented totaled $159 million — about $7 million higher than appropriations passed in September — reflecting the second half of an emergency levy and reallocation to athletics and capital grants.
A motion to approve treasurer action items G‑1 through G‑5 (financial report, fund transfers, return of advances, advances of funds, and final supplemental appropriations) was made, seconded and approved by roll call.
