Five-year plan sees schools in strong financial health

  • 2015-11-22
On October 26, members of the Dublin Board of Education approved a five-year financial forecast that revealed good news for schools.

The forecast says the schools will be able to stay in the black, and end with a positive cash balance, through the year 2020.

District treasurer Stephen Osborne says reasons for the improved financial outlook include increased efficiency, reduced expenditures, and advocacy by members of the community, as well as the board of education for state funding, based on the positive outlook.

Some of the efficiencies that have saved money include adopting some practices commonly used in business, like Lean Six Sigma. The schools were also able to save by cutting back the number of professional development days, when teachers are not available and substitutes have to be hired.

At the community level, reimbursements for tangible personal property taxes have been cut, and will be eliminated next year. In addition, some educators have retired, reducing salary expenditures, and insurance costs have dropped.

Osborne believes revenue for the current fiscal year will exceed expenditures by $4m, and though he thinks that will reverse next year, he does not believe the district will need to go back to the voters until 2018.

Dublin officials might like to work with a newsletter printing service to create a letter for residents explaining the school district’s current and predicted fiscal positions.