News and Events from the Loveland, Ohio Area
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Loveland, Ohio – A five-year financial forecast was approved by the Loveland Board of Education on May 21, 2019. Here are links where you can access the Five Year Forecast presentation and Five Year Forecast Financial Report:
http://go.boarddocs.com/oh/love/Board.nsf/goto?open&id=BC5MFS535BB6
Also, read:
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.
By Terrah Floyd,
Loveland’s recent update to the district’s financial projections show that the district remains committed to keeping the promises made from the last levy – to make the last levy last through 2018 through conservative fiscal management while maintaining excellent educational opportunities for the students we serve. The district’s forecast, called the five-year financial forecast, was approved by the Board at the April 17 Business Meeting. The five-year financial forecast is a tool that aligns our income and expenses to our district’s current and future goals with respect to academics, operations and facilities. There are some updates to note.
The district is investing in additional school building safety and security updates. These are needed in order to keep pace with the current safety and security needs and to reflect the changing times.
First, the forecast shows that the district is investing in additional school building safety and security updates. These are needed in order to keep pace with the current safety and security needs and to reflect the changing times. They include placing fire-code approved locks on interior doors of our buildings, and plan for increased school resource officer presence.
Plans include placing fire-code approved locks on interior doors of our buildings, and plan for increased school resource officer presence.
The district is engaging in a Master Planning process with the community. This is an investment, and it is critical to the long-term planning and operations of the district. Aging buildings bring significant costs, and in order to help minimize these for the future we are working now to make sure that we are deliberate about our next steps.
In fact, we will be able to stretch it a bit longer, and anticipate that an operating levy will be needed in 2019.
Loveland continues to stretch every dollar and to wisely plan for the future. Our Board of Education kept the promise of making the last levy last through 2018. In fact, we will be able to stretch it a bit longer, and anticipate that an operating levy will be needed in 2019. Operating levies fund the day-to-day operations of our schools like staff, programs, textbooks and supplies.
To provide you with relevant history, the Loveland City School District passed a 5.6 mill operating levy in May of 2014; passage of the levy provided the district the opportunity to invest in and enrich the excellent education we provide by enhancing the classroom experience for the 4,800 students we serve. None of these investments could have happened without your support, and – as always – we offer a sincere thank you to those who believed in our mission and continue to support our district.
By Brett Griffith,
At the September 18 Board of Education Business Meeting, it was time to once again revisit our five-year financial forecast – a tool we use twice each year (fall and spring) to anticipate both the financial stability and future needs for the district. You have heard me say this before, and I will say it again now – as the chief financial officer of the Loveland City School District, I want you – our investor – to know that it is of the utmost importance to both our Board of Education and my team to operate in a fiscally conservative manner while maintaining excellence for the students we serve. I am pleased to report to you that the district has maintained financial stability – as promised during the last levy campaign.
I am pleased to report to you that the district has maintained financial stability – as promised during the last levy campaign.
To provide you with relevant history, the Loveland City School District passed a 5.6 mill operating levy in May of 2014; passage of the levy provided our team an opportunity to invest in and enrich the excellent education we provide by enhancing the classroom experience for the 4,700 students we serve. Those investments included one-to-one technology for students in grades five through 12, the addition of a tuition-based all-day kindergarten option, a five-year commitment to investigating and purchasing the best instructional materials by subject annually – district-wide, development of more robust offerings at our high school, and strategic investment in classroom instruction district-wide through Innovative Instructional Grants. None of these investments could have happened without your support, and – as always – we offer a sincere thank you to those who believed in our mission and continue to support our district. Our expectation is that the money from that levy will continue to fund the district – as promised – until 2018.
Our expectation is that the money from that levy will continue to fund the district – as promised – until 2018.
At this time, our five-year forecast projections show a need to be back on the ballot in the future for an operating levy; this information was shared with our Board of Education to consider during the Business Meeting. At this time there has been no discussion regarding any specifics, but as those discussions progress, the district will provide timely updates to you. Additionally, the Board is considering future needs regarding our facilities which were brought to our attention by community members who spent a good portion of the 2016-17 school year working with district staff to identify these needs for our district and research current best practices at surrounding districts. While any upgrades to facilities would be separate from an operating levy, it is important for you to understand that the Board is considering how to address both issues. Again, as those discussions advance the district will keep you informed on the latest.
As I have expressed to you before, I feel it is my privilege to serve our Tiger Family by ensuring our team prepares students for tomorrow, today while maintaining the fiscal health of our operations. I invite you to contact me directly should you have any specific questions about our district finances. My door is always open.
Brett Griffith is & CFO of the
Loveland City School District
