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Board hears forecast showing growing deficits; Treasurer urges levy planning for 2027
Summary
Treasurer Craig Yaniglos told the Brecksville-Broadview Heights Board the district expects a $756,000 deficit in FY26 that could grow to $3.2 million in FY27 and recommended planning for a new operating levy in calendar year 2027 to avoid sharply reduced cash days by FY29.
The Brecksville-Broadview Heights Board of Education on Oct. 13 received a detailed five-year financial forecast from Treasurer Craig Yaniglos that projected an operating deficit this year and larger shortfalls ahead. Yaniglos said the district is “44.7% ($25.3M) through its projected $57.2M revenue” for FY26 and concluded that “the district anticipates a $756,000 deficit spend in FY26, growing to $3.2M in FY27.”
Yaniglos told the board that local sources account for 82.7% of revenues and that the forecast assumes a $6 million transfer from the Campus Master Plan fund in FY28 as temporary relief. Based on current projections, he said a new operating levy will likely be needed in calendar year 2027, with the first collection in January 2028. The presentation also spelled out risks from pending state legislative proposals and the phase-in of the Fair School Funding Plan under HB96.
Board President Mark Dosen and other members asked questions about levy timing, how the $6 million transfer would be structured, and what reductions might be required if voters do not approve a levy. Yaniglos said the transfer would come from dissolving the Campus Master Plan fund and that bond counsel advised the transfer would need to be "an all or nothing" action. The board approved the required three-year/forecast filing on a 4-0 vote.
