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Dollars and Decisions

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Delaware City Schools Financial Update
Jill Corwin, Chief Financial Officer/Treasuer
May 13, 2026

At Delaware City Schools, we are committed to providing excellent education for our students while being transparent about our finances. We want to share an important update about our district's financial future.

Our Financial Challenge

Our latest projections show a significant change from previous forecasts. While we once expected modest growth, we now face declining revenue of 0.08% annually through 2030. At the same time, our necessary costs are increasing by 4.58% each year.

This gap between income and expenses—driven primarily by increased student services and rising benefit costs—means our expenses are growing faster than our revenue. Without action, we project running out of cash reserves by 2030.

What's Causing This?

Recent changes to Ohio school funding laws have significantly reduced our revenue:

  • HB 186 (Inflation Cap): This law limits how much revenue we receive from growing property values in our community. Even when home values increase, the district cannot access that growth to support our students' needs.
  • HB 129 (20-Mill Floor Revision): This changes how the state calculates minimum guaranteed funding. By including certain levies (Emergency and Substitute levies) in this calculation, our district may lose substantial state funding starting in 2027.

What We're Doing

Our team manages your tax dollars carefully. We're currently spending $642,757 less than historical averages on supplies and materials. However, operational savings alone cannot close the $17.4 million gap we face by 2030.

We are taking action on multiple fronts:

  • Controlling Benefit Growth: Bringing benefit costs back in line with historical averages.
  • Legislative Advocacy: Continuing to work with state leaders to ensure the Fair School Funding Plan is fully realized and accounts for actual costs.
  • Planning strategically: Developing long-term solutions to maintain financial stability.

We will keep you informed every step of the way. Our students' success and well-being remain our top priority.