At a special Board meeting on July 8th, the Crestwood School Board heard from District Treasurer Katie Hoffmeister who shared financial information based on recent state budget developments as they relate to school funding. She thanked the Board for moving their monthly meeting, which was originally scheduled for July 22 to earlier in the month to comply with a new mandate to have new hires approved by July 10. As a part of the meeting, the Board approved two certified positions, one administrative contract, and one classified position. The Board approved an athletic advertising sponsorship for Ellerhorst Dental. Board member Eric Hummel shared that “We’re proud to have her in our community.”
Moving forward, Mrs. Hoffmeister noted that with changes made to the State Bi-Annual budget by the Ohio House, Senate, and the Governor, the District’s current Five-Year Forecast is outdated. She noted that the Governor issued a record number of vetoes and highlighted the ones pertinent to schools. They included vetoes on bills relating to non-charter education savings accounts, educational tax credits, and SDS & SES employee contribution provisions (for administrative staff). She noted, “There’s still a lot to digest and unfold, to see what it means for us.” She shared that she’ll be in multiple meetings through the month of July in order to present the Board with a revised forecast based on this new information. In addition, she noted that they’ll watching developments in the grassroots initiative to eliminate property tax. For his part, the Governor agreed that comprehensive tax reform is needed, but not at the expense of schools.
Hoffmeister explained that the State has changed the dates that Financial Forecasts should be submitted to August and February. Forecasts were previously due in November and May. She noted that districts don’t receive accurate tax numbers until March or April of each year, making earlier forecasts less accurate. On a positive note, Hoffmeister noted that the County Budget Commission was granted more authority than in the past, a change she was pleased to share.
On the Federal funding front, Hoffmeister noted that the School Fair Funding has remained intact, which she sees as a huge win for school districts. She noted that funding is based on a vetted formula that shows the true cost of education. She noted, however, that the base cost inputs used in the calculation are 2022 cost levels and haven’t been updated. She also noted that funding decisions for Title One, Two, Three, Four A, and Four B Funds have not yet been determined, although in previous years, the determination was made by July 1st. These funds impact Crestwood’s special education, low income, and disadvantaged students to the tune of $400,000. As developments are made on these issues, Hoffmeister will present an updated Forecast to the Board at the August meeting.
The next Board meeting will be held on Tuesday, August 12th at 7 pm. For more information, visit crestwoodschools.org.
