Excellent fiscal condition
Posted Friday, September 19, 2014
As the chief financial officer of the Loveland City School District my mission is to maintain the fiscal health of our operations so our administrative team and Tiger Staff can fully focus on the education of the 4,700 students we serve. One tool I use to project our financial future is called the five year forecast – and each fall, by state law, it is presented to the Loveland Board of Education. At the September 17 Board Business Meeting, I was pleased with the news we had to deliver: the Loveland City School District is in a healthy financial position.
In Ohio, the funding of schools is shared by the state and local school districts. The Ohio General Assembly determines what an adequate education costs in the state’s biennial education budget. Loveland has grown tremendously in residential construction, but lacks a strong commercial base. Approximately two percent of our total revenue from taxes comes from commercial/industrial, which places a larger tax burden on our property owners for the operation of the schools.
Voters in 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 continue the excellent education we provide to our students, and we offer a sincere thank you to those who supported and continue to support our district. With that gratitude comes an assurance that we will continue to operate in a fiscally conservative manner. Recent examples of our ability to manage expenditures include:
This is a mere snapshot of what my office works to achieve for our Loveland investors each and every day. If you would like more detail about how we do business, please visit “Our Financial Story.” Should you have any specific questions about our district finances, I encourage you to contact me directly. My door is always open.
- The addition of energy efficient initiatives saving more than $400,000 per year since 2011
- The district is saving more than $250,000 due to participation in two insurance programs
- The district has reduced staffing cost by $692,000 over the past two years
- Over the past three years the district has saved more than $1.5 million through new initiatives and cost saving measures
Loveland City School District
Treasurer & CFO