Loveland kicks off Finance Committee work in facilities master planning process

Building Tiger Nation in full motion

The Building Tiger Nation Finance Committee met on Thursday, October 18, to begin its deep dive into school finance.  The meeting, which was the first in a series of monthly meetings to be held over the next several months, was open to the public and specifically designed to assist community members to develop an understanding of how school funding relates to Loveland taxpayers.

“The information shared at this meeting was focused on who we are as a community, taking into account tax base and income,” said Loveland City School District Treasurer Kevin Hawley. “As we move forward, we will continue to inform our community about school finances, but will also answer questions and gather input on choices that will need to be made with regard to community financial support. The ultimate goal of the committee is to make a recommendation on the best funding package for the master plan to the school board this coming spring, after evaluating all the options.”

Takeaways from the data presented at the meeting include the information that the Loveland City Schools District, which serves five communities and is one of the largest in the area, has a low level of debt in comparison to similar districts. For every dollar generated from property tax revenues in Loveland, $0.92 come from residential property, versus only $0.08 from commercial property. Loveland residents, which are among the wealthiest in Ohio, have shown extraordinary support for the schools by approving nearly 80 percent of levy requests on the first ask.

“The initial Finance Committee meeting was highly informative for everyone in the room, not just those with a specific interest or expertise in finance,” said Loveland Superintendent Dr. Amy Crouse. “The information was extremely helpful in the context of where we are in our master planning process. As an example, it was eye-opening to see how heavily local school revenue falls on residential property owners in Loveland in comparison to many surrounding districts that have a higher commercial base to generate taxes. My hope is that our community takes advantage of these opportunities to come together, learn, ask questions, and lend their voices in this important process.”

The next meeting in the series is scheduled for November 15, 6:30 p.m. and will be held in the Loveland Middle School media center. The discussion will center around how much Loveland residents pay in taxes relative to other school districts, and ways to compare Loveland with neighboring communities and other high-performing school districts. All residents are invited and encouraged to attend.

Initial Finance Meeting Presentation, 10-18-18