1. I heard funding was cut from the state. What does that mean?
As you may recall from previous FAQs, our podcast, or information posted on our website, State revenue makes up about 43% of our total revenue. These revenues are distributed to us by the State in disbursements made according to whatever school funding formula they are using at the time. This school year we are under a new funding formula. The new funding formula was passed on HB 110 on 07/01/2021 (the first day of the new fiscal year). This is the first revamp of the funding formula in several years and has had a dramatic impact for Ross Local Schools and school districts like us around the State.
Under the old school funding model Ross Local Schools was set to get about a $1 million increase in the amount of revenue we receive over the next two years. With the passage of the new funding formula that $1 million was cut to an increase of just under $45,000 over the next two years. This decrease along with inflation near historic records and unfunded mandates put forth by the State has had a tremendous impact on our ability to be solvent.
2. Was the budget passed before or after the new formula?
The budget for Ross Local Schools for the 2021-2022 school year was passed at the September 2021 meeting. Taking into account our loss of funding the budget for the 2021-2022 school year was reduced by approximately $1.375 million over the previous year.