Current Finances
Here is the most recent Spring 2026 Community Update presented at all township and village meetings. Our plan is to visit these meetings twice per year (fall and spring) to give an update on our schools and gather feedback/information from our community.
End of July 2026, our bank balances were:
- Daily Operations = $2,404,918.33
- Investments = $2,033,933.07
We have requested and received advances from both counties and have requested advances and will have this to operate on until fall settlements are received. We will continue to receive our bi-monthly payments from the state.
The Clinton County Budget Commission has informed us that our residents will see a ~9% tax credit on their fall tax bills. We will be receiving an ~$800k 'hold harmless' payment from the state to reimburse us for these credits. We will receive another payment in August 2027 for the Warren County tax credit.
2026 is a triennial update for Clinton County and 2027 is a triennial update for Warren County. These increases will be limited by the GDP-Deflator which we are forecasting to be about 9.15% and 8% respectively. The 2029 reappraisal for Clinton County has been moved to 2030 with Warren County.
Our bond millage rate has decreased from 1.5 to 1.2 and will remain at 1.2 for this year. The bond will come off the books December 2028. Due to refinancing three times, we have shaved essentially 3 years of payments off the original cost of the construction bond from 2001.
We no longer receive money from the 0.5 mill maintenance levy, which is why we will be putting $2 million this year and $1.5 million the following years of the new 1% earned income tax revenue toward permanent improvements.
To give you a frame of reference, it costs our district an average of $450,000 for each payroll (semimonthly), $225,000 for our insurance each month (District side only), and $12,000 for Medicare each month (District side only).
Granted, we get about $400k twice a month from State Funding (which in addition covers our STRS/SERS [pensions] each month ~$300k).
For our income tax, we get quarterly payments at the ends of January, April, July, and October. 2026 is the first year your income will be taxed under the 1% earned income tax levy passed in May 2025. We received $407,118 at the end of April 2026 for the 25-26 school year.
