FACT: 74% of Bay Village property tax goes to the district
According to the Cuyahoga district Treasurer, the average Cuyahoga County property tax for school expenditures is 60%.
In Bay Village, the district receives 74% of our property taxes!
You have a right to direct how your money is being spent.
The District is Operating in the Red
The district reports financial data to the Ohio Department of Education. Districts must submit their financial statements and their five-year forecast each year.
We pulled the submitted financial data from 2010 forward. The district operated in a surplus position from 2011 - 2018.
In 2018, the district had a surplus of $2.6M, what happened?
Despite having a record surplus year in 2018, the district began to operate in the RED in 2019. Jodi Hausman was hired mid-year in 2018. Coincidence?
The district is FORECASTING INCREASING LOSSES for the NEXT FIVE YEARS.
The below chart gives more information on the forecast. Beginning in 2019, the expenses BEGIN to exceed what the district will take in. The district response, spend more!
For each year you can see the gap between the Revenue line (blue) and Expense line (orange) get bigger and bigger.
We also took a look at the cash reserve balance compared to net revenue or loss. The Reserve balance (cash balance available to spend) is the blue bar, the orange bar represents the losses (actual losses in 2019 and 2020, forecasted losses).
As you can see, the district had over $15M in their reserve fund in 2018 and is forecasting to be dangerously low 2023/2024 and NEGATIVE by 2025.
According to the "Bay Village City School District Community Report (Fall 2016)" newsletter,
"School districts exist soley to educate children, and districts are expected to collect only the revenue needed to meet operation expenditures. Schools must plan years in advance to make sure projected revenue will meet projected and contractual obligations.
If the district funds are not there,
districts must by law cut expenses to meet revenue."