Treasurer's Notes

Treasurer's Notes

Five year forecast reflects increase in state aid stemming from state's biennium budget process

In November, I presented to the Board of Education a five-year financial forecast for the district covering three years of actual data and five years of anticipated revenues and expenditures. This is a legally required document that is presented to the board for approval and then filed with the state of Ohio.

This document is updated every May and November, providing our district with an important check-in point so that we can keep a clear view on future impacts and needs.

The five year forecast reflects key changes from the May 2023 update, including an increase in investment income and an approximate $2 million annual increase in state aid for the 2023-2024 fiscal year and beyond. The latter is a result of changes made in the Fair School Funding Plan during the state’s biennium budget process.

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2023 county property reappraisal and school taxes

Recently, all Franklin County homeowners received a new appraisal estimate from the county auditor. While the average increase in property values in Upper Arlington is 26 percent, that doesn’t mean homeowners will be paying 26 percent more in property taxes — or that UA Schools will be receiving 26 percent more in property tax revenue. 

As you may recall, a state law known as House Bill 920 ensures that voted operating levies do not grow as property values increase. In fact, as property values increase, tax rates, on average, actually decrease for homeowners. This means the district will get about the same amount of money from a voted operating or permanent improvement levy even once the new valuations go into effect.

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Enrollment growth continues to play a role in staffing across the district

In the Upper Arlington Schools, we are committed to preparing the young people of this community for success, both while they’re here and in their next steps in life.  An important part of that is ensuring that we have the people — teachers, bus drivers, custodians, nurses, support staff and more — to support our students in every aspect of their school experience. 

This year, we are welcoming more than 50 new members of the Upper Arlington Schools team — including classroom teachers, intervention specialists, building principals and more. While they are primarily filling open and existing positions, we do have a few who are joining us due to continuing enrollment growth, particularly at the kindergarten level. This is truly exciting, because those students are coming to us at the very beginning of their Upper Arlington Schools experience.

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Updated five year forecast reflects key changes, including upcoming property revaluation

Upper Arlington Schools is committed to being a good steward of our community’s investment in our schools. As part of that commitment, it is essential that we provide our community a clear and transparent view of our district’s finances.

The five year forecast provides that important check-in point for our community twice every year. It includes three years of actual data and five years of anticipated revenues and expenditures — offering a look at both our current financial status and our outlook, including the potential impact of any future needs. 

This legally required document is presented to the Board of Education and filed with the state of Ohio every November, and then it is updated every May.

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Annual Financial Update provides clear look at district's finances

Providing clear and transparent communication about the state of the finances of the Upper Arlington Schools is one of the district’s major commitments to the community. An important part of this commitment is the publication of an annual financial report.

The 2022-2023 Financial Update, which is now available on our website at, is meant to provide our community with a clear and concise look at the financial state of the district and the factors that will impact our financial situation in the coming years.

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Clean audit recognizes district's commitment to effective financial practices

Upper Arlington Schools is committed to being a good steward of our community’s investment in our schools, and we take this commitment very seriously. Effective and efficient use of our financial resources is crucial to ensuring that we can provide the high-quality educational experiences that our students deserve and our community expects.  

Every year, we rely on an external, third-party review of our finances by the state auditor’s office. This process involves a team from the auditor’s offices spending a significant amount of time delving into our financial records and reviewing our practices. 

I am pleased to share that our district has again earned a clean audit opinion for the 2021-2022 fiscal year, recognizing our commitment to effective and accountable financial practices for our community. You can find the fiscal year 2022 audited financial report from the state on our website at  

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