Financial Facts for March 17, 2020, Emergency Levy RENEWAL
On November 19, 2019, the Board of Education approved the Emergency Tax Levy RENEWAL to be on the ballot on March 17, 2020. It was recommended by the Financial Advisory Committee and the District administration.
As the Treasurer/CFO of the District, it is my responsibility to ensure that all Vandalia-Butler community members are informed and have the facts regarding the upcoming emergency tax levy renewal on March 17, 2020.
- The levy RENEWAL provides $4,447,000 annually for current day-to-day operations
- The levy RENEWAL is nearly 12.5% of this year’s total revenue projections
- The levy has been approved as a 5-year levy five times and will expire December 31, 2021, if not approved
- If approved, the ONLY change will be from the current 5-year term to a 10-year term, saving ballot expense fees
So, why the March 17, 2020 ballot?
- First opportunity to RENEW the levy.
- It is a Primary election and not a Special election, so it should be less expensive.
- Again, this levy is critical for operations so, the Board is acting to secure its revenue.
- It is important to know what revenue is available in order to plan for future operations and facilities.
Unfortunately, the Ohio General Assembly’s recent legislation and budget bills have had a negative impact on the District’s finances. The District continues to address issues created by the loss of the tangible personal property taxes and further declining State funding from being “capped.” Capped means the District is not receiving the amount of State funding the formula calculates should be received. The loss of State funding this year is nearly $1.1 million. The current funding formula implies that Vandalia-Butler has a “higher capacity” to pay (on its own) and receive less State funding. The current funding model increases the need for additional levy requests and/or renewals for many school districts in Ohio, including Vandalia-Butler City Schools.
The Board of Education, Superintendent and I, continue to advocate and fight for more funding, fewer unfunded mandates, less privatizing of education (while taking our local tax dollars), and more local control. However, at this time, this is the model we have to operate within. We must use the resources available to educate our most precious recipients, OUR CHILDREN. We are committed to spending each dollar responsibly and for what is in the best interest of students.
If you have questions or concerns regarding finances or any other area, please contact the Superintendent or me. We are happy to help and want to be 100% transparent.
Please keep in mind that this important levy RENEWAL will be on the ballot on March 17, 2020.
Eric K. Beavers, Treasurer/CFO
937.415.6400, ext. 6407 ~ email@example.com