Dover reports good financial outlook while keeping eye on future
Providing a well-rounded education at a great value to residents is our top priority. That’s why, nearing the end of 2021, I’m happy to report that despite the challenges we’ve faced throughout the pandemic, Dover Schools has a solid short-term financial outlook. Dover residents should all be receiving a current Financial Prospectus in your mailboxes before the year’s end.
Like many schools, CARES Act funding has had a significant impact on our short-term budget. These one-time monies have allowed us to boost our learning recovery efforts and maintain day-to-day operations. Unfortunately, this funding is not a continual revenue stream.
Additionally, some residents have asked how the new school funding plan impacts our schools. While the new Fair School Funding Plan significantly changes how K-12 school district funding is calculated — a victory for Ohio’s schools — the new plan is capped, meaning Dover Schools will not immediately realize the full amount of funding available.
These combined factors have us keeping a very close eye on our long-term budget. Thanks to a history of sound financial decision-making, we have stretched our dollars twice as long as promised since the last time we were on the ballot in 2008. Decisions such as changes to our healthcare insurance, reconfiguring our school buildings, and reorganizing staff positions have resulted in savings to our budget, but we will continue to face budgetary challenges in the future.
Partnering with our community about the future is important. Being transparent about our finances is just as important as our key mission of educating students to be college and career-ready. In the coming weeks, every resident will receive our annual Financial Prospectus. We hope you find this in-depth look at Dover Schools’ financial picture informative.
Together, I know we can address tomorrow’s challenges today. Thank you for your support so that we can continue providing the education that Dover families have come to know and expect.
Karie McCrate is the Superintendent of Dover City Schools.
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