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Treasurer warns of low cash point; forecast points to likely 2027 operating levy
Summary
Treasurer Craig Yaniglos reported a tight January cash position due to delayed county tax advances but said year-to-date revenues exceed forecasts by roughly $842,000; forecast notes a probable need to seek an operating levy in 2027 to maintain stability through 2030.
Treasurer Craig Yaniglos presented the district’s February financial forecast and cash-position update, telling the Board the district reclaimed over $7,000 in unclaimed funds and that cash-on-hand is low in January because Cuyahoga County delayed tax advances. Yaniglos noted the district has a positive revenue variance versus the October forecast (about $842,404) but warned that timing issues and possible state funding changes remain risks.
Using the five-year forecast, Yaniglos said the district would “likely need to request a new operating levy in 2027” to maintain fiscal stability through 2030 unless other revenue options change. The Board approved the updated forecast and budget adjustments and authorized bid advertisements for several projects to align spending with projected cash flows.
