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At the Indian Hill Board of Education Meeting on Tuesday, October 7, I had the opportunity to present the latest update to our District’s Five-Year Financial Forecast. This vital planning tool is not only a requirement by the Ohio Department of Education & Workforce, but also a cornerstone of our commitment to long-term, responsible stewardship of our community’s educational investment. Presented twice annually, this forecast ensures that our financial strategy aligns with the academic, operational, and facility goals we have set for our students and community.
Despite continued uncertainty in how state legislation will impact our revenue, because of responsible fiscal stewardship and planning, our district maintains a solid financial foundation, enabling continued investment in high-quality educational programs while ensuring long-term sustainability. This reflects our commitment to fiscal responsibility while delivering the excellence our community both expects and deserves:
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Taxpayer Value: Property values within our district experienced up to a 30% increase, reflecting the community's desirability and the district's quality. We have also seen savings for homeowners in our district; notably, the 2001 bond will expire in 2027, following a 2016 refinancing that saved taxpayers $8.5 million. Property tax value is currently estimated to increase another 17% by the state. We are noting House Bill 186 is active currently and could impact a cap on the percentage increase regarding school district property taxes and the school funding formula. We will continue to monitor this proposed legislation and communicate updates.
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Legislative Monitoring: Additionally, we continue to closely monitor potential reforms to Ohio's property tax system, including the implications of House Bill 920 and the 20-mill floor, to assess future impacts on district revenue. You can expect continued updates as they become available.
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Grant Acquisition: The district secured significant grants, including $22,500 from the Ohio STEM Learning Network and $272,733 from the Ohio Department of Education & Workforce, supporting advancements in STEM education and career readiness initiatives.
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Energy Efficiency: Our Energy Savings Program continues to yield over $150,000 in annual savings, exemplifying our dedication to cost-effective operations.
Investments in Our Future
Despite this challenging backdrop, our forecast continues to outline targeted and strategic investments in the priorities that matter most: academic excellence, operational efficiency, and modernized facilities. As we move forward, we remain focused on:
- Enhancing educational programs that prepare students for global success.
- Upgrading school infrastructure to support safe, innovative learning environments.
- Maintaining competitive staffing to attract and retain top-tier educators.
These investments are aligned with our community values and our District’s long-term vision.
Rising Expenses
Inflation continues to impact all areas of our operations – from utilities to commercial insurance. Within rising expenses, it is important to note we will see a 15% increase in our health coverage starting January 2026.
We deeply appreciate the continued support of our Indian Hill community. You can count on us to provide transparent, timely updates and to advocate for the resources needed to deliver the exceptional education our students deserve.
If you have any questions about our District’s finances or would like more information, I invite you to reach out to me directly.
Dedicated to the success of our Braves,
Mick Davis
CFO/Treasurer
Indian Hill Exempted Village School District
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