FR financial forecast is clear

FORT RECOVERY — No storm clouds are imminent when it comes to the school district’s finances.

Treasurer Lori Koch presented Fort Recovery School Board with an updated five-year financial forecast Monday that showed some improvement over May projections and operating surpluses for the next two years.

Koch’s forecast shows Fort Recovery posting a $374,982 budget surplus for fiscal year 2018, which began July 1, to be followed by a $129,706 budget surplus in fiscal 2019. If those numbers hold, it would push the school district’s year-end balance to $5.86 million.

The projections show budget deficits in 2020, ’21 and ’22 that would cut that year-end balance down to $4.5 million heading into fiscal year 2023. Those projections are based on revenue from the state remaining flat.

The forecast was improved slightly from what Koch presented in May — projected revenue for fiscal 2018 went up by $236,972 while projected expenses dropped by $21,090 — thanks in large part to better-than-expected numbers in terms of property tax.

While Fort Recovery took a hit because of changes to the way agricultural land is assessed — the value on such land dropped by 28.3 percent — it made up a large chunk of those lost property tax dollars because of an increase in residential assessed value.

In other business, board members Ginny Fortkamp, Aaron Gugenbiller, Jose Faller, Mitch Ervin and Mike Grube:

•Recognized the Fort Recovery High School marching band, which finished first in Class C in competition Saturday at Maumee while earning a I rating and a state berth. It was also first for music, visuals and auxiliary. The Indians’ last regular-season competition will be Saturday at Marion Local.

•Heard from Koch that state approval for the district’s project through Ohio’s Energy Conservation Program could come as early as this week. Superintendent Justin Firks said he hopes the work to install more energy efficient lighting, which will be done on second shift so as not to disrupt the school day, at Fort Recovery Elementary/Middle School can begin this winter. The project is expected to save the district more than $1 million over a 25-year period.

•Extended its master supply agreement for electricity with Dayton Power and Light through December 2020.

•Approved additional appropriations for hosting the sectional championship match of the OHSAA volleyball tournament, student managed activities and an online science course.

•Accepted the resignation of Olivia Grieshop as assistant high school girls basketball coach. Also, hired Alan Evers as fifth and sixth grade boys basketball coach.

•Approved paying a $175 invoice from Fort Recovery Insurance Agency.

•Accepted donations totaling $12,375 in support of guest speaker Chris Herren, who will visit Fort Recovery on Nov. 7.

•Amended the extracurricular pay scale to allow for payment of equipment coordinators.

•Heard a reminder from Firks that Ohio School Board Association’s Capital Conference is scheduled for Nov. 12 through 14. Grube and Erwin are scheduled to attend.