Mary Alice Reporting:
(Thursday, September 13th) Dover, Ohio – The Dover City School District is reviewing their revenue sources and what the next five years looks like.
Currently, the district does not have outstanding debts to be funded out of the general fund, which generates roughly $23 million a year.
School District Treasurer Marsha Clark explains the five-year out-look shows where their money is being spent.
“It’s just good fiscal management to be looking ahead. It gives us information as to when we’re going to be in deficit spending situations when we’re going to need additional funding to maintain the programs that we have, or if we need to make changes to programs to help balance the budget.”
At this time, Dover School is experiencing a stagnate revenue period with their property taxes, state funding source, and the loss of all Tangible Personal Property Tax (TPP).
“Businesses no longer pay that inventory tax which was collected locally and distributed to the local government units, and for several years the state had a reimbursement plan where we got some of that money back.”
The 2019-2020 year will be the last school term the district will collect those funds, and Clark notes the TPP made up about 15% of the general fund budget and next year they will collect less than $100,000.
She says to help with the funding loss, Dover School has a five-year levy on the November ballot that would generate around $3.3 million.
The district is still working on a plan if voters do not approve the levy.
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