Barnesville Schools Financial Forecast 2024-2029
Barnesville School District Treasurer Adam Quirk shared the schools’ five-year financial forecast for the fiscal year ending on June 30 through June 2029 at the May 22 Board of Education meeting. Each year the treasurer provides a projected five-year snapshot.
Quirk said the recent property valuation increased tax revenue resulting in an additional $657,418 for the year ending June 30. With the additional funds, the district was not forced to tap reserve funds to end the year.
However, the projections for the next four years reveal expenditures higher than revenue. This is based on current financial information and models districts use to project future budgets.
A quick review of ending projected balances reveal the following:
- June 30, 2025 + $1,180,641
- June 30, 2026 –$454,422
- June 30, 2027 –$966,963
- June 30, 2028 –$1,298,691
- June 30, 2029 –$1,736,842
Quirk noted that personnel expenses during the five-year period will continue to rise. Many of the District’s employees are veteran employees at the higher end of the pay scale.
During the current fiscal year personnel costs amount to 41.75% of all expenses. By 2029 that percentage is projected to increase to 49.49%.
Both Quirk and Superintendent Micah Fuchs shared their concern with the current political atmosphere regarding school budgets at the Ohio State House.
There are currently proposals to revert taxable collections to the amounts collected prior to the most recent appraisals to one that would eliminate property taxes altogether to fund schools.
Another proposal would eliminate a school district’s ability to hold funds in reserve often called “rainy day funds”. Under that proposal, the school district would be required to return the money to taxpayers as a credit. Both administrators shared this would punish districts that are trying to be good stewards of the public’s funds.
Anyone with questions about the forecast and report may contact Quirk at adam.quirk@bevsd.org or (740) 425-3615.
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