In our previous article we discussed the success the district has achieved in balancing its budget over the past several years. In this article, we will discuss the importance of maintaining the current operating condition of the district by renewing one of the district’s major sources of revenue.
The District relies heavily on money from the residents and businesses of the school district because of the limited amount of money provided to it by the State of Ohio. The funding is largely represented by two specific property tax levies previously approved by voters in the community. One of those levies generates about $2,350,000 per year and is used to cover some of the cost to operate the school district.
Next year, that levy, which was previously granted by taxpayers in May of 2013, will expire unless the community agrees to extend the tax for another five years. Renewals of existing tax levies extend an already existing tax for another stated period. They do not increase the amount of taxes already being paid by residents, nor does it change the use of those taxes.
Passage of the renewal levy simply maintains the status of operations for the District. It will not provide more money to add programs or build facilities. It will, however, allow the continuous operations of the district and the consistent budgeting process for the future. Loss of the Emergency levy will require cuts in spending and could destabilize the long-term planning process to educate Lakewood’s children.
The Board of Education, at its June 14, 2017 regular Board meeting, passed the first resolution required to go on the November 2017 ballot to ask the voters of the community for a renewal of this Emergency levy. Renewal of this levy will extend the current levy funding for another five years.