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Finances

WE are Fiscally Responsible

As we continue to expand our learning opportunities to prepare our students to successfully meet the demands of life after graduation, we are committed to aligning our resources to Lakota's educational priorities while ensuring financial stability.

  • WE will continue to be good stewards of our residents' tax dollars by operating a strategically aligned and efficient budget because fiscal responsibility is a top priority for the district;

  • WE will continue to monitor spending and re-prioritize dollars to enhance personalized student learning;

  • WE will continue to put the majority of our resources toward instruction, pupil support and instructional support; and 

  • WE will continue to provide financial transparency to our community through annual publications like the Annual Comprehensive Financial Report (ACFR) and the Financial Prospectus.

Auditor of State Award: 10 Consecutive Years

Fewer than 5% of all government entities that are audited annually in Ohio earn the Auditor of State Award with Distinction – and Lakota has received the honor ten years in a row.

The criteria to receive the award includes:

  • Complete an Annual Comprehensive Financial Report within six months of fiscal year end;
  • Have a “clean audit” with no findings for recovery, material citations, material weaknesses, significant deficiencies, single audit findings or questioned costs; and
  • Have no other financial concerns.

Lakota's audit is available on the Auditor of State's website.

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Refinancing Saves Taxpayer Dollars; Increases Bond Ratings

Strong financial decisions made by the district during the last few years, including saving more than $6 million in interest expense due to recent refinancing of debt, have earned Lakota Local Schools one of the highest possible bond ratings of Aa1 by Moody’s Investors Service and AA+ by Standard & Poor’s (S&P).

Lakota's Last Levy: 2013

The priorities for the November 2013 levy were shaped by the community's collective vision for the future of education. The identified areas aim to maximize the community's long-term investment in our schools by stretching the dollars to positively impact as many students as possible.

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Budget Stabilization Policy

While Lakota’s budget stabilization policy sets a minimum ninety day cash balance, the forecast predicts the amount will exceed seven months at the end of Fiscal Year 2022, more than double the minimum set in policy.

 

 

12 Years of Balanced Budgets

The close of Fiscal Year 2024 marks 12 consecutive years that Lakota has had a balanced budget. This span of more than a decade of balanced budgets has enabled Lakota to build up very strong cash reserves. 

These are just two examples of the district living up to the WE are Fiscally Responsible pillar of its strategic plan.  

Finance News

Background looks like a white and black composition notebook; in foreground is a red spiral notebook with 2024-2025 student fees printed on it

The Lakota Board of Education approved the return of student fees for the 2024-2025 school year at its June 27 regular school board meeting. Since 2020, Lakota has been able to waive all student fees by utilizing federal dollars from the Elementary and Secondary School Emergency Relief (ESSER) Fund. Lakota will use a "zero-based budgeting model" for student fees moving forward. 

The approved student fee schedule also includes an increase to junior school athletic participation fees, as well as high school pay-to-participate fees for athletics, marching band and color/winter guard. A slight adjustment to daily breakfast and lunch menu prices, as well as the junior and high school Club Card, was also approved. 

Read More about 2024-2025 Student Fees Return in Absence of ESSER Funds

Valuation Explained

Learn more about how Ohio public schools are funded.

Contact Us

Adam Zink

Adam Zink

Treasurer\cfo
Darian Ascoli

Darian Ascoli

Assistant Treasurer
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For General Inquiries:

Email: treasurers@lakotaonline.com