The Bexley City Schools Board of Education approved a resolution on May 8, 2024, declaring it necessary to levy a tax to operate the schools. This webpage is dedicated to providing the Bexley community with information to educate themselves about about the issue.
Summary
The Board resolution calls for an incremental five-year property tax levy for current expenses. This type of levy is also known as a “phased-in” levy. The proposal calls for an initial 5 mill tax, followed by annual increases of 2.5 mills in years two through five, spanning from 2025-2029. This levy type and amount was supported by the District’s Finance Advisory Council members who regularly review the financial health of the district.
The proposed levy will fund daily current operational expenses, support the work to meet the district’s strategic plan goals, and maintain current academic offerings and student services. Bexley Schools last asked for additional funding from voters in 2019.
The need for additional revenue is reflected in the school district’s Five-Year Forecast, a document summarizing the financial health of a school district that is required to be filed with the State of Ohio. The May 2024 Five-Year Forecast confirms that the district’s revenue forecast will fall below the district’s 70-day cash-on-hand threshold in three years. The forecast also predicts a negative cash balance in four years.