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Joint Solon Board of Education-City Council Meeting on Funding March 6

Joint Solon Board of Education-Solon City Council meeting on state funding

 

The Solon Board of Education is meeting with Solon City Council March 6 to discuss funding issues in the Governor’s budget that will negatively impact the Solon Schools and the city. The meeting is at Solon City Hall at 7:30 p.m.

For the Solon Schools, the most critical issue is the phase-out of Tangible Personal Property Tax funding. At risk for the district $8.3 million a year, or $1,800 per student. This amounts to 13% of the school district’s annual budget and is already down from the $10.7 million the district received annually in TPP reimbursement funding in 2011.

If allowed to stand, current state law enacted in 2015 as part of the last biennial budget, creates a “fiscal cliff” on July 1. That day, the Solon Schools will lose an additional $3.5 million in tangible personal property tax reimbursement. In real terms, this means the Solon Schools will receive only $4.825 million in tangible personal property tax funding next year – a significant loss of $5.875 million a year since 2011.

By July of 2024 (just seven years away), the Solon Schools will receive $0 – a cumulative loss to our schools of more than $80 million.

Just like in past state budget cycles, the Solon Schools will be active in Columbus working with a statewide coalition to retain reimbursement funding for these once-local revenues. Communications from the district about the process and specific requests for grassroots advocacy at the appropriate time will be sent to all families, residents and businesses.

To watch tonight’s meeting live online, go to:

http://www.solonohio.org/996/Live-Meetings

Archived City Council meetings are posted on YouTube at:

https://www.youtube.com/user/solonohiogovchannel