Nordonia Hills reports $2.47 million MGM settlement; board to consider transfer to Permanent Improvement fund

Finance staff informed the Nordonia Hills City School District Board of Education on March 18 that the district received $2,465,575 from MGM on Feb. 23, which was deposited to the general fund. Staff said the board will discuss a recommendation to transfer some or all of those proceeds to the Permanent Improvement (PI) fund at upcoming April and May meetings, noting that any transfer must be completed by June 30 if pursued.

The settlement receipt was presented alongside the budget discussion; staff previewed that some of the funds may be considered for technology needs in future budget conversations. The finance presenter said the mechanics and timing of any transfer will be brought to the board with formal recommendations at a later meeting.

At the end of the special meeting the chair asked for a motion to enter executive session to discuss matters required to be kept confidential by federal law, regulation or state statute; the provided transcript ends at the request and does not record whether the board entered executive session or any vote on the PI transfer.

Next steps: the board will receive formal recommendations for a PI transfer in future meetings and must complete any transfer by June 30 if it pursues moving funds from the general fund to the PI fund.