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Treasurer reports $58M revenue forecast, $966,000 favorable variance after county reimbursement
Summary
Treasurer Craig told the Brecksville-Broadview Heights Board the district projects just over $58 million in revenue for FY26, noting a $966,000 favorable variance largely driven by a nearly $600,000 reimbursement from the county auditor tied to the sexennial reappraisal; cash timing and bond payments require monitoring.
Treasurer Craig presented the district—inancial report for October, saying projected revenue for fiscal 2026 is a little over $58,000,000 and that the district is showing a $966,000 favorable variance so far. "We received a relatively large reimbursement—rom the county auditor—rom conducting the sexennial reappraisal; it was almost $600,000 of that," he said.
Craig described short-term cash timing pressures despite the revenue strength: the district began the period with about $19.2 million in cash and completed a $3,000,000 transfer from savings this week to cover payroll and bond payments, including a $1,600,000 bond payment for the elementary school. He said real-estate collections are running around 46.5% this fall, slightly above typical expectations, and noted a $300,000 year-over-year personnel cost decrease largely from benefits changes. "We—re watching this pretty closely as we approach the February forecast," he added.
The treasurer also discussed longer-term budget drivers: modest savings from a change in pharmacy benefit manager expected in January (he estimated consortium-level savings of roughly $1.5—or the consortium), rising purchase-services and supplies costs causing a net unfavorable variance so far, and the fiscal calendar's impact on cash flow ahead of the first real-estate settlement in January. He said the district remains stable but has low reserves as a consortium and continues to target incremental improvements.
