The Ohio Department of Education and Workforce (ODEW) today, October 23, 2025, formally notified the New Richmond Exempted Village School District that our most recent five-year financial forecast indicates a potential deficit beginning in Fiscal Year 2027.

While this does not mean the district is currently under fiscal watch, the Department has designated New Richmond as being in fiscal caution, the first of three stages. NREVSD is now required to submit a formal written plan to ODEW December 21, 2025, outlining how the district will avoid the projected deficit.

What This Means
The state requires every district whose forecast projects future deficits to submit a proactive plan. For New Richmond, the ODEW identified potential deficits in FY27 and FY28. Fiscal Year 27 begins in July of 2026. 

As such, the district is required to submit a Board-approved plan detailing expenditure reductions, revenue strategies, and implementation timelines. The state recommendation is that any potential reductions take effect as soon as possible, likely during the spring and summer of 2026.

Our Immediate Steps
Superintendent Paul Daniels, Treasurer Brett Floyd, and the Board of Education will immediately begin preparing the required written plan. This plan will include:

- A Plan A, based on the passage of the Earned Income Tax Levy currently on the November ballot; and
- A Plan B, which will identify expenditure reductions necessary if the levy does not pass.

The district will continue working closely with ODEW’s Office of Budget and School Funding and the Ohio Auditor of State to ensure full transparency and compliance with all requirements.

Our Commitment to the Community
“We are taking this notification seriously and will continue to operate with full transparency,” Superintendent Daniels said. “Our priority remains protecting educational quality, staff stability, and community trust while meeting all state fiscal requirements.”

As the district has clearly stated in our community forums and the board-approved five year forecast, NREVSD does have financial challenges that require us to either generate revenue or make $2.3 million in reductions. This notice is part of a standard, statewide procedure used to help districts proactively manage their finances and NREVSD is already well underway in that process.

We remain committed to open communication with our families, staff, and community as we navigate this process together. The Board of Education will discuss next steps at its November meeting, and additional updates will be shared on our website and official social media channels.

More information on the proposed earned income tax levy can be found here. A full copy of the letter sent to the district from the state of Ohio can be found here.