“For new operating money, I anticipate that that is going to be in 2027,” Laura Sauber, treasurer of Oakwood schools, said when discussing when the district may ask voters for new levy funds.
“We’ll see how we end the year. We’ll still have plenty of time to talk about that in terms of new money,” Sauber said. “We have cash that will carry us a little bit of time, but we want to be careful that we don’t get into that cash balance too far.”
For fiscal year 2025, the district’s total expenditures of about $38.5 million exceeded its total revenue of $34.8 million by about $3.7 million, according to the Oakwood schools’ financial forecast. The district still ended the year with a positive cash balance of $13.9 million.
For fiscal year 2026, expenses and revenues are expected to be about flat, both at around $34.3 million.
For upcoming fiscal years:
- Projected expenses include $35.3 million for 2027, $36.7 million for 2028, and $38.2 million for 2029.
- Projected revenues include $34.2 million for 2027, $34 million for 2028 and again for 2029.
- Projected cash balances include fiscal year 2027 ending with $12.9 million, 2028 ending with $10.1 million, and 2029 ending with $5.9 million.
For 2026, the district anticipates seeking a renewal of its five-year permanent improvement levy, she said.
Oakwood’s levy history includes a two-part school levy passed in May 2019, which included a permanent 4.99-mill operating levy and then a 37-year, 2.71-mill bond to go toward the first phase of the district’s master facilities plan. The first phase of that facilities plan focused on improvements to the Oakwood Junior High and High School.
In November 2022, residents approved the renewal of the district’s five-year, 1.8-mill permanent improvement levy, which first went before voters in the late 1970s.
In November 2023, Oakwood voters approved a combined operating and permanent improvement levy, which included a 5.75-mill operating levy and a 1-mill permanent improvement levy.
In May 2025, voters also approved a 33-year, 4.74-mill bond issue for updates to Oakwood City Schools’ two elementary buildings.
The need for a possible new operating levy in 2027 is due to costs increasing annually for things like utilities, goods and services, health insurance, and employee wages, but revenues and funding sources remaining relatively flat, according to the district.
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