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Executive Summary

Sylvania Schools is expected to maintain a balanced budget and sufficient cash reserves in fiscal year 2020. Both are essential components to long-term fiscal health. Operating within a carefully developed fiscal spending plan is a districtwide commitment. Based on current projections, expenditures begin to outpace revenues in fiscal year 2022. With this in mind, it is necessary to continue proactively identifying ways to lower costs while maintaining valuable educational experiences for students. Postponing deficit spending will ultimately prolong the need to return to voters to approve a new levy.

The much-anticipated state biennial budget was released in mid-July. Public schools were hopeful that key funding inequities would finally be addressed with the introduction of a robust K-12 education budget. Unfortunately, meaningful funding reform was put on hold until greater consensus could be reached on the fairness and permanency of the funding model. The current budget provides additional funding for enrollment growth and wellness initiatives but freezes funding at 2019 levels for special education, transportation and career technical programs. Flat funding key educational components could prove costly should enrollment increase in fiscal
years 2020 and 2021. The District’s financial success is contingent upon the commitment of legislatures to continue the discussion in finding a fair school funding solution.

Fiscal Beliefs
As fiscal stewards for Sylvania taxpayers, we believe it is prudent to have adequate cash reserves. This is a long term goal that with time, deliberate discussion, and sufficient planning, will be accomplished by focusing on the following:
1. As educational leaders, we are committed to investing district resources in effective and innovative teaching
and learning opportunities.
2. All fiscal decisions will respect the District’s educational goals and financial plan.
3. We will focus on efficiently and proactively managing expenses to delay deficit spending as long as possible.
4. Continuous and proactive planning for curriculum, technology and capital improvements will be monitored and followed.

Fiscal Stewardship

We are extremely grateful to our community for their support in the passage of our levy. Due to that passage, we are able to offer a great education to our students, simultaneously ensuring that Sylvania Schools remains a destination location for young families looking for a great education for their children.

To ensure transparency, Sylvania Schools has adopted the Ohio Online Checkbook to allow all community members access to our finances. You may find our checkbook at OhioCheckbook.com.

Contact


Lisa Shanks, Treasurer/CFO
419-824-8520 
Bradley J. Rieger Administration Building
4747 N. Holland Sylvania Road
Sylvania, Ohio 43560  

Documents

Fiscal year 2020 Comprehensive Annual Financial Report (CAFR)
2020 CAFR (PDF) (RTF)

The district is required to submit a five-year financial forecast and supporting notes two times each school year. The most recent version of the forecast and notes approved by the Board of Education can be viewed by clicking below. Be sure to review the notes along with the numbers, as they are key in understanding the meaning behind the numbers. The district's forecast and notes can also be viewed on The Ohio Department of Education website by clicking here.
 
• 5-year Forecast (PDF) (RTF)
• Assumptions (PDF) (RTF)
 
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