Dover announces good financial outlook while keeping an eye on the future
Providing a comprehensive education at a great price to residents is our top priority. That is why, towards the end of 2021, I am happy to report that despite the challenges we have faced throughout the pandemic, schools in Dover have a strong short-term financial outlook. Residents of Dover should all receive an up-to-date financial prospectus in your mailboxes before the end of the year.
Like many schools, funding from the CARES Act has had a significant impact on our budget in the short term. These one-time funds have allowed us to step up our learning recovery efforts and keep operations going on a day-to-day basis. Unfortunately, this funding is not a continuous source of income.
In addition, some residents asked about the impact of the new school funding plan on our schools. As the new equitable school funding plan dramatically changes the way School District K-12 funding is calculated – a win for Ohio schools – the new plan is capped, meaning Dover schools will not immediately realize the full amount of funding available.
These factors combined force us to watch our long-term budget very closely. Thanks to a history of sound financial decision-making, we’ve stretched our dollars twice as long as promised since we were last on the ballot in 2008. Decisions like changes to our health insurance, The reconfiguration of our school buildings and the reorganization of the post staff have resulted in savings in our budget, but we will continue to face budgetary challenges in the future.
It is important to work in partnership with our community for the future. Being transparent about our finances is just as important as our key mission to educate students to be college and career ready. In the coming weeks, each resident will receive our annual Financial Prospectus. We hope you find this in-depth review of the Dover Schools financial situation informative.
Together, I know that today we can meet the challenges of tomorrow. Thank you for your support so that we can continue to provide the education that Dover families know and expect.
Karie McCrate is the Director of Schools for the City of Dover.