COVENTRY — The Financial Planning and Supervision Commission and Coventry Local Schools officials discussed the district’s possible release from fiscal emergency at the Dec. 3 meeting.
The district produced a positive five-year financial forecast last month, which was the last measure the district needed to complete to be released from fiscal emergency. The district was placed in fiscal emergency five years ago and had been in fiscal watch for 14 years prior to that.
District Treasurer Sherry Tyson said during the commission meeting that during a conference call, State Auditor’s Office officials indicated they were “leery” about releasing any district from fiscal emergency during the COVID-19 pandemic and until they see how the economy is recovering.
She stated there are several unknowns for next year, including whether the district will continue to lose money due to enrollment changes and whether the continuing pandemic
will result in additional impacts on school funding. Tyson suggested applying for release after the May five-year forecast, which would take into account these financial impacts.
Commission Chair Bob Foss said the commission would focus on monitoring the district’s expenses more closely until May to ensure the current positive financial projections are maintained.
“It is with high hopes that the district’s most recent financial accomplishment and positive five-year forecast will bring an opportunity for Coventry to be released from the state’s fiscal oversight,” said Superintendent Lisa Blough when asked for a comment after the meeting. “Although the current outlook is favorable, the district remains very cautious regarding the reality of this potential. Our concern at this point is really due to the unknown financial impact of COVID-19 on the district. The district has already experienced significant loss to the General Fund due to state reductions. Although we have been able to successfully manage these losses, we are concerned that additional cuts or unknown expenses will negatively impact our current position. Therefore, it is more important than ever for the district to continue to conservatively manage the district’s finances while providing our students with a quality education.”
During the commission meeting, Blough reported the plan to return to in-person classes after a mid-November COVID-19 outbreak has been put on hold at least through the winter break due to Summit County being moved into the Level 4/Purple Category in the Ohio Public Advisory System, which tracks the severity of COVID-19 cases.
She also stated air purifier ionization unites have been installed in school buildings, and Chromebooks are still on back order and not likely to arrive until after the winter break.
In other business, the commission approved a number of personnel items and contracts for the district.
The next meeting is set for Dec. 28 at 4 p.m. via teleconference, with details on how to join the meeting available by emailing robert.foss@education.ohio.gov.
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Commission, Coventry Schools discuss fiscal emergency status - Akron Leader Publications
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