CORTLAND — The Lakeview Board of Education learned Monday that newly passed House Bills 129 and 186 could result in a projected $1 million loss in funding in coming years.

The board heard an update at the regular board meeting from district Treasurer Terry Armstrong on the potential impacts of the new state legislation. The estimates, Armstrong said, were provided by the Ohio Legislative Services Commission.

“That’s the best data we have right now,” Armstrong said. “We’re hoping for better information as we complete the five-year forecast.”

He said more complete information could be available as soon as next month as the district works through its tax budgeting process.

The new state laws change how schools receive revenue as property values increase, with the goal of limiting automatic tax increases that occur without voter approval.

Armstrong said the legislation includes credits and other mechanisms intended to soften the impact on school districts in the short term, but he noted there are no long-term guarantees built into the law.

He recommended that the district closely watch finances, spending and revenue trends until the full impact of the change in Columbus becomes clear for the district.

Also Monday, the board:

• Chose Jennifer Nicholas as president and board member Taylor Pease as vice president for the upcoming year.

• Set the regular meetings of the board for 6 p.m. on the third Monday of each month, with adjustments made for federal holidays and school breaks.

• Accepted the resignation of eighth-grade girls’ basketball coach Bryan Oatridge.

• Hired Marilyn Filimonuk as a four-hour bus driver and Morgan Jankovich as ski club support instructor.

• Heard an update on the tax budget for the coming years. Full financial details will be provided as the school updates its annual five-year forecast, with that report due in February.