The five year forecast was created by the 122nd General Assembly in 1997-98 via Am. Sub. H.B. 412. It serves three primary purposes:
1) To provide a standardized tool for long range planning at the local level.
2) To serve as a basis for determining a district's ability to sign "412" certificates.
3) To provide a method for the Ohio Department of Education and the Auditor of State to identify districts headed toward financial difficulties.
Statutorily, the District is required to update the financial forecast bi-annually. The first filing is on or before October 31st and the second filing is between April 1 and May 31. Revisions are processed as needed.
The latest version of the District's five year financial forecast is on the website.
It is the practice of Nordonia Hills City School District to maximize the revenue generated by our available bank balances. Since our balances represent public funds and tax proceeds, our primary focus remains perservation of principle. The secondary goal is to properly balance liquidity needs, with an acceptable rate of return.