Did you know? A school district’s General Fund covers items like teacher and staff salaries, benefits, utilities, classroom supplies, and more. This funding is essential for daily operations and ensuring an excellent education for our students. #MCSFinanceFridays
Did you know? A Combination Levy combines operating and permanent improvement levies, ensuring funds for both everyday needs and future projects. #MCSFinanceFridays
Did you know? A Renewal Levy continues the same tax revenue voters previously approved. It provides steady funding for schools without increasing taxes! #MCSFinanceFridays
Did you know? When it comes to upgrading or maintaining schools, Permanent Improvement Levies are the type of levy that districts leverage. These funds go to things that last 5+ years, like new roofs or technology—not for daily operations. #MCSFinanceFridays
Did you know? There are many types of levies, like bond issues! A Bond Levy funds major school projects, including renovations. Think of it like a mortgage—paid off over time for long-term investments in a district’s future. #MCSFinanceFridays
Did you know? An Operating Levy helps fund day-to-day school expenses like salaries, utilities, and supplies. It's the foundation of school budgets, ensuring students have what they need to succeed! #MCSFinanceFridays
Reminder: No school tomorrow, Tuesday, November 5th! Students, enjoy your day off! Our teachers and staff will be busy with professional development, working to bring even more innovation to your classrooms. See you Wednesday!
Did you know? An Operating Levy helps fund day-to-day school expenses like salaries, utilities, and supplies. It's the foundation of school budgets, ensuring students have what they need to succeed! #FinanceFriday
Understanding Ohio School Finance helps communities to make informed decisions about educational funding. Every month we will share a Featured Finance Fact on our website, check out this month’s now! www.miamisburgcityschools.org. #FinanceFridays
A component of House Bill 920, commonly referred to as the "20 mill floor," guarantees Ohio school districts collect at least 20 mills in property tax revenue, providing a minimum funding level despite property value changes. #SchoolFunding #OhioEducation #FinanceFridays
HB 920 stabilizes Ohio's property tax revenue by adjusting millage to prevent inflation-based increases when home values rise. Meaning, the total tax revenue collected doesn’t increase beyond what voters originally passed except for new construction or property improvements.
Ohio property taxes are based on the assessed value, which is 35% of the appraised value. This assessed value is used to calculate property taxed to help fund local services, including public schools. #PropertyTaxes #OhioRealEstate #FinanceFridays
Levies are essential for Ohio school funding. Different types, such as operating and bond levies, serve various purposes like covering daily expenses or funding capital projects. #SchoolLevies #OhioFinance #Finance Fridays
Understanding Ohio School Finance helps communities to make informed decisions about educational funding. Every month we will share a Featured Finance Fact on our website, check out this month’s now! www.miamisburgcityschools.org. #FinanceFridays
Understanding Ohio School Finance begins with the basics! Property taxes are calculated based on the assessed value of property & the number of mills levied. A "mill" is a unit used in property taxation, essential for funding public schools. One mill equals one-tenth of a cent.
Understanding Ohio School Finance begins with the basics! Property taxes are calculated based on the assessed value of property & the number of mills levied. A "mill" is a unit used in property taxation, essential for funding public schools. One mill equals one-tenth of a cent.
A warm welcome to Katrina Hillard! Katrina will provide treasurer services to MCS through the Shared Resource Center for 2024-2025. She brings with her 12 years of experience to our team, including roles as a secretary, in accounting and budgetary, assistant treasurer, and treasurer. We are thrilled to have her expertise guiding our financial operations!
Looking ahead to the next biennium budget, Ohio will appropriate $169 million to support transitioning to the Science of Reading curriculum. The bulk of the dollars will support new instructional materials & professional development for staff. Learn more: https://bit.ly/3vTzXDT
Did you know that in 2023, MCS received approximately $15,180,506 in state aid and is projected to receive even more in 2024? Due to anticipated changes in the biennium budget, the five-year forecast projects a decrease in later years due to several factors.
The Fair School Funding Plan, not yet fully implemented, could impact Ohio school funding. This plan aims to rectify historical funding disparities to ensure equity across Ohio school districts. See our latest forecast for variables in planning.