Building a Brave Future Financial Prospectus 2020-2021

A message from Treasurer
Mick Davis

On behalf of the Board of Education, I’m pleased to present to you our third-annual Financial Prospectus. The message we have to deliver is one of critical need.

Indian Hill has been actively, closely examining our need to bring revenues in line with expenses. We continue to anticipate near-flat revenue growth (near one percent per year). One percent per year is well below the rate
of inflation mark. Inflationary costs affect us on the revenue side, as well as the expense side as things get more expensive over time but we do not
see a corresponding increase to match on the revenue side. Because of this situation with our operating funds, and because of substantial issues within our facilities – both in terms of significant maintenance needs and necessary safety upgrades – we continue to see the need to raise additional funds for operations as well as a substantial facilities project.

As such, during the December 2020 meeting, our Board of Education took the first step toward placing a combined operating/bond issue on the May 2021 ballot. The last operational levy for the District was on the ballot in 1993, while the last facility project was in front of the voters in 2001.

Protecting and maintaining our world-class programs is our priority.

The Indian Hill School District ranked No. 1 in the state and No. 7 in the country according to Niche; we are ranked No. 5 in the state by U.S. News and World Report. We have received the “Best Communities for Music Education” the past six consecutive years.

We are proud of what our students and staff accomplish; we know you are, too.

Indian Hill School District #7 in the country!

We have a mission of Enduring Excellence in Learning, Leadership, Innovation, and Service; we also strive to be excellent stewards of the financial investment our
taxpayers make in our District. This publication offers you a view of the investments we make in education to ensure the excellence in fiscal operations match our educational excellence.

Should you have any questions about our District’s finances, please contact me directly. Sincerely,

Mick.Davis@indianhillschools.org


What makes us UNIQUELY INDIAN HILL? Take a look!

School District is
Point your smartphone camera at the QR codes to access video stories highlighting our world-class programs!	The Indian Hill

Small Class Size Counts	an excellent value;
As a District, our
COVID-19
Hamilton County.
To offset the loss of state funding due to the COVID-19 pandemic,	our District’s tax student to teacher	the District examined our capital outlay planning tool, which is                    rate is the lowest in

Impact:
Tax Year 2019 Collection 2020
	
Rank
	District
	Rate
	
1
	Finneytown
	70.47

2
	St. Bernard -Elmwood Pl
	
63.87
	
3
	Mariemont
	62.73

4
	Winton Woods
	
59.59
	
5
	Cincinnati
	52.89

6
	
Wyoming
	52.39
(1-1/4% Income Tax)
	
7
	Deer Park
	51.45
	
8
	Madeira
	51.41

9
	Mount Healthy
	
49.07
	
10
	Reading
	47.14
	
11
	Norwood
	46.99
	
Average
	46.24
	
12
	Loveland
	44.64
	
13
	Forest Hills
	43.23
	
14
	Northwest
	42.68

15
	North College Hill
	
41.83
	
16
	Milford
	41.19
	
17
	Princeton
	41.08
	
18
	Lockland
	40.46
	
19
	Sycamore
	38.15
	
20
	Three Rivers
	35.75
	
21
	Oak Hills
	35.61

22
	
Southwest
	26.83 (.75% Earned Income Tax)
	
23
	Indian Hill
	23.99
	
ratio is 11.6 to one.	used to analyze capital needs and to plan future projects. The

District removed all items other than technology and transportation View video here.	purchases from the current year’s plan. The expectation is that when

Experienced & Award-
Winning Faculty
next year’s Capital Plan is approved the District will do the same procedure. This frees much needed cash to help sustain dwindling balances. However, this could potentially exacerbate current
Reducing
Within our faculty,	facility needs; all carpeting, furniture purchases, and other general 90 percent of	maintenance was delayed.
our educators
advanced degree
have earned an	Expenditures	The Board of Education voted in May 2020 to restructure
of M.Ed. or more.
View video here.	custodial operations through outsourcing services. The District will save approximately $325,000 annually as a result.

Global Competence
Our Indian Hill Global Parent
The District did an excellent job managing the last bond issue –

Network - which represents
40 different nationalities
within the District -
assists the District
in planning unique, age-appropriate
learning activities for our students, like
2019 Tax
Reduction
structuring the refinancing of bonds to achieve taxpayer savings of $8.5 million. That savings for residents comes in the form of reduced millage paid toward the bonds. A significant share of what residents pay on this bond expired – reducing the bond debt by 1.74 mills. That means an annual reduction of $304 on a $500,000 home, and an annual savings of $609 on a $1 million home. We will see an

It’s important to note our last operating levy, which funds the
District’s day-to-	in day expenses, was     D passed more than
25 years ago.
	
The levy was not
renewed by the Board of	The majority of our Education in 1998. During	revenue comes from
this time, our schools have had	property tax – more
to absorb funding cuts, changes	than 90 percent. We in tax laws, and inflationary cost
creases. This continues to strain our istrict’s ability to maintain current
educational services, facilities, and
learning opportunities that are	inflationary increase.
our District.

taxpayer payments.
our annual Global Cultural Week.	View video here.	additional 1.4 mills of existing bonds expire in 2027, again lowering

Nationally Recognized Music Education Program

continue to operate
from levies passed in
the 1980s and earlier
For six consecutive years, the Indian Hill School District has been named an award recipient of the National Association of
with a near-zero
key to the mission of
Music Merchant’s Best Communities for Music Education. Indian Hill was one of 754 districts in the country to earn this recognition this year. More than 400 students perform with our
Hill High School and Indian Hill Middle
School, and our music education
<5%
State
Educational
orchestra, band, and choir at Indian	Additionally, Indian Hill receives minimal state education funding – in fact, less than five percent
program begins with our youngest
Funding
of our revenue is from this source. This is something scholars.	View video here.	we do not anticipate ever increasing.

Building a Brave Vision for our facilities

Last school year, a dedicated team of Indian Hill School District residents who comprised the community-based Finance Steering Committee and the Facilities Steering Committee delivered comprehensive recommendations for our Board of Education to consider. These reports were
the culmination of research into our operations and facilities needs that first began in 2018.

And the work to Build a Brave
Future has not stopped.	District Steering Committee Team Meeting

Members from each of those committees have formed a 2020 Facilities Vision Task Force. Their focus was how to move forward with a bond issue to help protect the investment in the District’s current facilities; make security upgrades at buildings across the District; replace and maintain mechanical systems; and replace Indian Hill Middle School. Members of the committee presented their recommendations to the Board of Education December 2020.

The main structure of Indian Hill Middle School was constructed in the 1960s; since that
time, despite regular maintenance of the building, structural issues have forced sections to be closed to students. And, when it rains it really does pour. The District is in a constant state of repair work to patch a flat roof that is
the equivalent of three football fields in size.

recognition.
3%
2020
8%
4%
0%	0%
Energy Savings Program	Brave Achievement

This past fall, the Indian Hill School District partnered with Motz Engineering and Energy Optimizers in developing a fiscally responsible Energy Savings Program to make District-wide facility upgrades that are good for the environment. District school buildings will be equipped with LED lighting designed to provide students and staff with an improved learning environment. Along with the brighter,
clean light in classrooms and hallways, the District has a building-by-building plan to improve facilities with a focus on integrating energy-eficient systems, improving air quality, and conserving water. Certain
end-of-life equipment replacements are being incorporated as well as installing air conditioning in the high school gymnasium.

This plan does not address many of the serious and substantial facilities issues we face within our District, however, this is one way we can continue to maintain our
buildings in a fiscally conservative manner – by utilizing a lower rate and shorter term loan than a bond could provide. As part of this Board-approved plan, the Indian Hill School District is investing $3.7 million to make the facilities upgrades. The improvements will result in
a guaranteed energy savings of $154,528 annually.

Indian Hill Schools demonstrates the excellence in fiscal operations that match our educational excellence. We regularly earn the recognition from the state auditor’s ofice for excellence in fiscal reporting, and recently earned recognition from the Ohio Senate for exemplary achievement in financial reporting.

18%
Benefits	11%
Purch
Serv	Supp
& Mat

EXPENSES 52%	15% Salaries                           Capital
Outlay

1%
Other Exp

STEM Celebration with IHHS

Project Lead The Way (PLTW), a national organization that provides programs in computer science, engineering,
and biomedical science - designated Indian Hill High School (IHHS) as a 2019-2020 Distinguished School. Indian Hill High School was one of 143 PLTW high school programs
across the country to receive	View video here.

Brave Virtual Academy

Brave Virtual Academy (BVA) is our new learning option for Indian Hill families wanting to
study in a flexible, online environment.
View video here.
Our priority in BVA is to make sure that you, your child, and our educators work together to build a world-class learning environment for students.

2020
66%	20% REVENUE Real Estate             All Other Rev

Prop Tax Alloc

Unres Aid

2%PUPP

Res	Income Aid	Tax

The Indian Hill High School Experience

Indian Hill High School is home to 28 Advanced Placement courses;
AP Capstone; and an award-winning team of five
counselors supporting our Braves through the college application process.
View video here.

Indian Hill Exempted Village School District Board of Education
(Left to Right) Elizabeth Johnston,VP of Operations; Nancy Aichholz, President;
Dr. Eddie Hooker, Member; Kim Martin Lewis,VP of Finance; Niki Singh, Member

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Indian Hill Exempted Village School District 6855 Drake Road, Cincinnati, OH 45243
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