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hat has Kings done since 2022 to be Fiscally Responsible? Being stewards of district funds and finding ways to save money and/or increase revenue while providing a first class education to our students is an overarching goal and daily discussion at the District. The Treasurer and Superintendent created 2 community groups immediately after the 2022 levy passage to review potential cost savings initiatives and advocate for additional state funding. The groups met a total of 7 times in 2023 and will be reactivated in 2024. The District also met with the Ohio Department of Education's Chief of Budget & School Funding, a local state representative, the current Executive Director of the Ohio Association of School Business Officials, and the Alliance for High Quality Education to confirm our state funding and strategize how to best advocate for additional funding from the state. Highlights of the district's successes are below:  Initiative Est. Savings or Revenue When? State Funding Advocacy $2,500,000 2024 & 2025; Ongoing Hiring Practices $1,055,000 2024 & 2025; Ongoing Personnel Savings Plan $1,512,000 2023-2025; Ongoing Tax Incentive Agreement Review $273,000 2023 Utility Purchasing $340,000 2023 & 2025 Health Insurance Initiatives $2,132,000 Ongoing Building Budgets (7% Reduction) $22,000 5% in 2024 & 2% in 2025 TOTAL $7,834,000

Kings Local Schools' Grant Funding - $5,161,314 in 2024

Kings Local staff and administration are always looking for ways to offset costs or enhance programs with grants. In the school year 2023-2024, Kings spent $5,161,314 in grant funds. A complete list along with the offsets and enhancements can be founds here. 

 

Cost & Revenue Per Student Comparisons 2024

 

Achieving Financial Stability Discussions with the Kings Board of Education

The Kings Local Board of Education has been engaged in discussions to achieve financial stability since 2020. The purpose of these discussions is to closely examine the revenues and expenditures in consultation with the Superintendent, Treasurer, and Administrative Team of the District to determine a path forward to maintain services and address a growing student population.

The District is largely supported by local funding due to the structure of school funding in Ohio. Nearly 80% of all District revenue is derived from local property taxes. Consequently, levy planning and the development of community support for local levies is an integral part of the District’s financial planning. Kings anticipates to LOSE state support in school year 2024-2025. The District did nothing wrong, but the state funding formula views Kings as a wealthy district.

The District utilized cash reserves from the 2016 Operating Levy through June 30, 2023. The levy was supposed to last 3 years, but the district was able to make it last 6.

A Kings Board of Education voted on July 12, 2022, to place a 6.4 mill levy on the November 2022 ballot to maintain a positive cash balance. The levy passed in November of 2022.

Post 2022 levy, the Administration created 2 community groups: The Long Term Financial Planning Group and the State Funding Advocacy Group. Results are posted above.

Board Discussions from 2021-2022 School Year

Board Discussions from 2020-2021 School Year

Financial Stability Discussion Powerpoint Slideshow 2020-2021