CMSD CONSTRUCTION FINANCING
Albert Bushnell Hart PK-8; Segment 7 school
THe PLan
The District’s Master Plan of 2002 was created to address the overall conditions of the District’s portfolio of school buildings. This plan has been updated periodically to address declines in enrollment and funding limitations. The latest revision to the Master Plan resulted in the creation of the District’s Long-term School Plan, approved by the Board of Education on November 19, 2019. This plan now aligns academic and facility decision-making along four key metrics:
School quality
Enrollment and choice patterns
Financial stability
Building utilization, condition and costs
FUnding SOurces
The primary local funding sources for the District’s construction projects are voter-approved Issue 14 and Issue 4. Issue 14 was a $335M bond issue, and a 0.5 mill tax levy passed in 2001. In 2014, Issue 4 was passed, resulting in a $200M bond issue and a 0.5 mill permanent improvement tax levy.
The other significant funding source is the State via the Ohio Facilities Construction Commission (OFCC). Eligibility for the program is based on the assessed property valuation per student. That property wealth factor determines the State and local share of the facilities project. The State’s share is determined by the District’s equity rank among all school districts in Ohio. When the District’s original plan was finalized in 2002, the State’s share was determined to be 68% of the total project cost.
The revenue and expenditures for the District’s facilities projects are allocated into several different funds based on their use.
Fund 003 is for permanent improvement and operational upkeep. The District is responsible for 100% of these costs.
Fund 010 is the classroom facilities fund. All projects co-funded with the OFCC are included in Fund 010. Fund 003 dollars can be moved to Fund 010 as necessary for approved co-funded projects.
Fund 034 is for maintenance and upkeep of buildings funded in Fund 010.
The District & The OFCC Partnership
The Ohio Facilities Construction Commission (OFCC) manages Ohio's school facility programs which provide support for the construction and renovation of public K-12 schools. In this capacity, the OFCC provides funding, management oversight and technical assistance to CMSD for the renovation and construction of its buildings. The OFCC conducts building assessments to help the District evaluate the condition of schools. They also co-approve project design and construction contracts.
The District must follow the Ohio School Design Manual, which sets construction standards for all OFCC projects to ensure statewide equity and quality for school facilities. The design manual is updated annually and sets necessary minimum standards of quality for school facilities.