MOUNT GILEAD, Ohio-Mount Gilead Exempted Village Schools Treasurer Tina Gabler presented a comprehensive five-year financial forecast during the May 21 school board meeting. The forecast highlighted a significant increase in real estate property tax revenue in 2024, attributed to the state’s full property reappraisal in 2023. Despite a decrease in permanent .75% income tax collection and a subsequent reduction in state funding, other revenue streams exceeded projections.
Expenses, including salaries, benefits, and purchased services, were lower than anticipated, except for capital outlay, which saw an increase due to investments in band equipment, Chromebooks, and district camera updates. The forecast projected a healthy cash balance of $6,598,875 for spring May, with 142 days cash anticipated. However, without additional .75% tax revenue, the five-year projection suggested a decline in cash reserves to 102 days, with an unreserved cash balance of $4,466,284 by fiscal year 2028. The board discussed the forecast and planned to review Gabler’s report before deciding whether to pursue placing the .75 traditional income tax on the ballot.
