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Sylvania Schools reports $28 million cash, $3.4M drawn from reserves in FY2026 year‑end review
Summary
District staff told the board the district closed FY2026 with a $28,000,000 cash balance (about 97 days cash on hand) but used $3.4 million from reserves for one‑time capital transfers; revenue rose ~0.51% while expenses grew about 3.86%.
The Sylvania Schools Board of Education received an FY2026 year‑end financial report showing the district closed the year with $28,000,000 in cash — roughly 97 days of cash on hand — and a one‑time draw of about $3.4 million from fund balance for capital projects, district staff said.
"We did finish a little bit better than the forecast by about 600,000," the staff member presenting the report said, and noted the district "did end with 28,000,000 as a cash balance, which equates 97 days cash on hand." The presenter attributed the dip in reserves primarily to transfers to capital projects for roofs and buses and said revenues increased about 0.51% while expenses grew roughly 3.86% year over year.
The presentation said state aid fell by about $1,200,000 (roughly 5.9%) and that timing of a Medicaid reimbursement (received in the new fiscal year) also affected the FY2026 totals. Staff emphasized the district remains close to board targets for days‑cash but warned the pattern of spending into reserves is not sustainable, noting the district will pursue a levy on the ballot to address ongoing gaps. The presenter said a financial forecast will be brought back to the board in August.
