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Published: Thursday, November 21, 2019 @ 1:00 AM
MIAMISBURG — The Miamisburg board of education is set tonight to approve a five-year financial forecast, about two weeks after voters approved a levy.
Passage of the five-year, 8.3-mill substitute levy – one of two that funds the schools – ensures a degree of certainty for Miamisburg, which has a general fund for 2020 estimated at $53.64 million, said Tina Hageman, treasurer for the district that also includes most of Miami Twp. and parts of German Twp.
“We’re doing better than some and not as well as others,” Hageman said. “I’d say we’re in the middle of the pack.”
The levy is expected to generate a $7.22 million – nearly 13 percent of the overall operating revenues and 12.4 percent the overall operating budget - each year through 2024, records show. The district is also getting about $6.77 million from the five-year levy renewed in 2017, officials said.
Less certain, however, is the state funding situation, Hageman said. State money has been decided through 2021, but funds to local districts were frozen at 2019 levels, contributing to the tricky nature of assessing the Miamisburg schools financial health, she said.
“If difficult to be sure what’s coming down the pike,” Hageman said. The district “needs to be watchful and keep an eye on what’s going on and keep all of the levies.”
Real estate taxes account for about 53.1 percent of the district’s revenue, while state funding provides about 37.7 percent, records show.
Other local money – including Austin Center and Dayton Mall Tax Increment Financing District funds totaling about $2.15 million – accounts for about 3.1 percent of revenues, according to the school district.
“We’re very dependent on the state and the overall economic outlook of the state and the funding dollars that will come to the district,” Hageman said.
Wages and benefits for an estimated 700 employees account for 83 percent of Miamisburg schools’ budget.
The district has maintained positive cash flow since 2011, and 2017 was the first year with deficit spending since 2010, records show.
Going forward, Hageman said, officials are planning for the elimination of tangible personal property tax, which is estimated to generate about 2.4 percent funds for the 2020 budget.
Miamisburg must also closely monitor all revenue areas and do the same with all spending while continuing to look for ways to streamline processes and minimize costs, she said.