COVENTRY TWP. Coventry Schools are looking ahead to fiscal year 2018.
During the March 21 meeting, the Board of Education approved the Financial Forecast 2018 for the State Auditor's Office. The forecast still has to be approved by the Financial Planning and Supervision Commission, which is overseeing the district.
Since the district remains in fiscal emergency, Steve Moomaw from the State Auditor’s Office gave a brief overview of the forecast, which is only a draft.
Moomaw said the district is expected to deficit spend in fiscal year 2018 and finish with a balance in the General Fund of $797,000. Slighty higher property tax collection is expected to take place during fiscal year 2018.
Treasurer Matthew Muccio also gave an update on the Accounting Methods Report, which is something the district has to address before being able to be asked to be removed from fiscal emergency. He said in total there were about 15 items that needed addressed and the district has been working on them. He hopes to have most of them done by the end of this fiscal year, if not all of them.
He said the next update to the five-year-forecast will come in May.
In other business March 21, the board:
- Approved the amount and rates by Summit County Budget Commission. This is for all the tax levies the district collects on for next fiscal year.
- Approved 14 purchase orders.
- Approved to amend the 403(B) Plan based on what the IRS would like to see. Muccio said the district’s legal team assisted with the amendments.
- Approved the final coaching contracts for the season and a summer supervisor to oversee students for summer programs.
- Approved an agreement with the University of Akron for College Credit Plus.
- Entered executive session to discuss the sale or purchase of property with no action taken.
The next Coventry Local Schools board meeting will be at 6 p.m. April 18 at the Lakeview Administrative Offices.