Lebanon Board of Education 2/17/26

The Lebanon City Schools Board of Education held a regular meeting on February 17, 2026, focusing primarily on financial forecasting and budget planning amid significant changes in property tax legislation. The board received a detailed presentation on the district's financial forecast, highlighting the impact of Ohio's property tax reform which is expected to reduce revenue growth by approximately $13 million over four years. The discussion emphasized the challenges posed by flatlining revenue growth against rising expenses, particularly staffing costs which constitute about 80% of the budget. The board was informed about the need to consider new revenue sources or expense reductions to maintain financial stability, with a potential levy required by 2029 to avoid deficit spending. Additionally, the meeting included approval of various financial consent items, personnel actions, and policy first readings related to legal and financial compliance. The board also discussed upcoming energy conservation projects funded by a low-interest loan, although a related state grant application was unsuccessful. Communications included updates on student activities and community recognition awards, but no new procurement contracts or vendor selections were reported.