The Twinsburg City School District Board of Education approved a five-year financial forecast showing the district will face a deficit by fiscal year 2028 during its Oct. 8 meeting at the high school.
Treasurer Julia Rozsnyai presented the forecast, which projects a negative balance of $730,000 in 2028. The district expects to receive a letter of fiscal precaution from the Ohio Department of Education and Workforce following the submission.
The district relies heavily on local funding, with 82.1% of revenues coming from property taxes and only 17.9% from state foundation funding. Total revenue for the current year is projected at $60.2 million, while expenditures are expected to reach $64 million.
Rozsnyai outlined several legislative concerns affecting the district’s finances, including proposals to eliminate continuing levies and changes to property tax laws. The state budget provided no increase in foundation funding for the current year.
Payroll and benefits comprise 82% of the district’s budget. The district has taken steps to reduce costs, including not replacing five teaching positions and hiring 14 new teachers at step five or below on the salary schedule. These measures, combined with early retirement incentives, are projected to save funds over the next three years.
Board President Rhonda Crawford emphasized that the financial challenges are not unique to Twinsburg, noting that school districts across Ohio are facing similar issues due to state funding cuts and legislative changes affecting property taxes.
The board approved personnel recommendations, policy revisions, and several student overnight trip proposals. Students of the month from Wilcox Primary School and George G. Dodge Intermediate School were recognized at the meeting.
Interim Superintendent Steve Marlow reported on the successful homecoming weekend, which featured the first use of metal detectors at the football game through the school safety grant program.