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District Financial Update - 5.11.20

Monday, May 11, 2020

 

Dear West Clermont Families and Staff,

I hope you and your family are doing well. I am writing today to update you on the state of West Clermont School District’s finances given the recent election and the COVID-19 health crisis.

Finally, this week we will know the results of our levy effort. We remain very optimistic, as the unofficial results on Tuesday, April 28 were 53% YES and 47% NO. The Clermont County Board of Elections is scheduled to meet this Friday afternoon to certify the final results. Again, we would like to thank our community and many volunteers who helped to share the facts, so that voters were informed about our district’s financial health.

Given the COVID-19 health crisis and its negative impact on our economy, last week Governor DeWine announced $775 million in immediate budget cuts. It’s unfortunate, but understandable when you consider the economic impact of the pandemic right now on all of us.

Of the $775 million of reductions, $300 million were directed at K-12 education. For West Clermont, that means we will see a reduction in state revenue to our budget totaling $1.7 million over the next two months. We are hopeful that a significant portion of these reductions will be mitigated with $1.1 million of new federal funds expected to be received from the CARES Act, but there is so much uncertainty that it makes it very difficult to predict what the future will look like.

We will certainly have to continue to adjust the way we do business, as a result of this pandemic. We are currently reviewing areas within our budget that are impacted due to transitioning from on-site to remote learning. And we are modeling scenarios for possible revenue reductions for the next fiscal year. Within the next two weeks, we will be updating our five-year forecast to provide as clear of a picture as we are able to at this point.

As more information is known, we will continue to communicate with you. In fact, expect to hear more about finances in the coming months. Communicating the financial health of our schools in a transparent manner with our community has always been a priority, and I promise to continue that conversation with you.

 

Sincerely

Natasha L. Adams, Superintendent
West Clermont School District





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