SHELBY, Ohio-Shelby City Schools Board of Education approved the district’s five-year financial forecast, projecting a healthy cash balance of nearly $17.2 million for fiscal year 2024, with a peak of $19.6 million in fiscal year 2027. The district anticipates increased general property tax revenue due to a recent reappraisal, alongside ongoing revenue from state and local sources.
While expenditures are rising, particularly in health insurance costs, the conclusion of ESSER grant funds in September 2024 will see related expenses transition back into the general fund. These funds were aimed at supporting the safe reopening and ongoing operation of schools amid the COVID-19 pandemic.
