Lebanon City Schools projects multi-year deficit spending but sees property-value-driven revenue; board approves $75,000 transfer to adopt new math curriculum

Lebanon City Schools’ board on May 20 reviewed a new five-year financial forecast that projects continued deficit spending but an overall carryover expected around $9 million in the near term, fueled in part by property reappraisals and a public-utility valuation back payment.

A member of the CAT/finance committee summarized the forecast visuals and cautioned that the district will remain in deficit spending each year of the projection if current trends continue. "We're going to be deficit spending each single year according to this forecast," the presenter said, noting the district will need to monitor expenses and potential changes in property-tax law that could alter revenue projections.

The superintendent highlighted several revenue drivers and expenditures: a reappraisal year is producing large increases in property values, and the district expects about $1,000,000 in back pay from a public-utility/pipeline valuation case. The finance presenter also noted the district had collected about $153,400 in student-fee accounts following a mailed-letter collection effort and that connectivity grants and other one-time receipts were included in the forecast adjustments.

On curriculum, Isaac and the curriculum director recommended adopting a math curriculum piloted this year after preliminary state-test results showed pilot classrooms outperformed peers. To finalize adoption, administrators proposed a $75,000 transfer from curriculum funds to cover the remaining balance. "Based on the results, it is in our best interest as a district to move forward with the new curriculum that our students and teachers want and are performing well with," Isaac said. The board approved the funds transfer as part of consent/finance approvals.

Board discussion also covered long-term priorities such as all-day, every-day kindergarten (noting current facility space constraints), the impact of settled union negotiations on expense projections (two new union negotiations are included in the forecast), and transportation funding efficiency as part of other agenda items.

What happens next: the forecast will be filed as required, the $75,000 curriculum payment will be processed from curriculum funds, and administration will continue to monitor revenues and expenses and report back to the board on key drivers such as property-tax reappraisal outcomes and potential state-level funding reforms.