We are tremendously grateful to our community for the continued support for our schools, which are an important part of Loveland and the value the city brings to its residents.
A Guest Column by Kevin Hawley,
The most important financial planning work we do occurs each year with the five-year financial forecast. Why? It’s simple. Budgets and financial planning tools are a statement of the organization’s priorities. At Loveland, you will see in our five-year financial forecast that our priorities are to send dollars to the classroom for students and about making our dollars stretch.
Loveland’s financial forecast provides a detailed look at the historical and projected financial sources. We use it when assessing the financial health of our district and in identifying any stressors to the budget or future challenges.
We were able to keep that promise and even stretch the money a bit longer.
We continue to show steady fiscal management thanks to the May 2014 levy that was passed by voters. That levy helped ensure fiscal stability for the last number of years. As good news for residents, at the time of passage, the board committed that the levy would last through fiscal year 2018. We were able to keep that promise and even stretch the money a bit longer.
Right now, the forecast shows that we are coming up on the need for an additional operating levy. That would likely occur in November 2019
Right now, the forecast shows that we are coming up on the need for an additional operating levy. That would likely occur in November 2019 as collection would need to begin the following calendar year (2020).
So where does the state come in? In Loveland, the state provides 28% of our funding. While we are appreciative for this amount, it can vary depending upon the legislature. Experts tell us to leave this amount flat for the foreseeable future. Our schools will know more once the legislature approves a new budget mid-next year. One thing that is clear in Ohio is that it is up to local communities to support their schools.
We also know that our facilities need upgrades and modernization to meet our students’ needs and the standards required by 21stcentury learning.
Regarding our facilities, we continue to make necessary updates in our school buildings. New this school year, we added much-needed safety and security updates at each school. In addition, we implemented more technology and instructional material for our students. We were able to do this with the funds from the 2014 operating levy passed by voters.
Kevin Hawley is Treasurer and Chief Financial Officer of Loveland City School District
Looking ahead, ensuring strong financial planning will remain an important part of the district’s planning and of the Building Tiger Nation research. While they may seem newer, many of our schools are decades old and are becoming increasingly more costly to maintain. We also know that our facilities need upgrades and modernization to meet our students’ needs and the standards required by 21stcentury learning. While the cost of new or upgraded facilities and buildings is looked at separately from our operating expenses, our Board is considering how to address both of these issues in the coming year.
We are tremendously grateful to our community for the continued support for our schools, which are an important part of Loveland and the value the city brings to its residents. It is my privilege to serve the Tiger Family and to ensure that we do everything we can to provide our teachers and staff with what they need in order to prepare our students for tomorrow, today.
