Building a Brave Future
	
	Financial Prospectus 2022-2023

Indian Hill Middle School December 2022

a fiscally responsible
“
Award for 2021
A message from CFO/Treasurer
Mick Davis
As we look

toward the future

using our five-year
On behalf of our Board of	forecast, we know our Education, the administration, the           financial outlook is stable;
teachers, and the staff members	our focus is to continue to of the Indian Hill School District, I          provide our stakeholders the
am pleased to present to you our	excellence they expect and fifth-annual Financial Prospectus.             deserve, and doing so in

manner.
The message we have to deliver is one of fiscal stability, fiscal responsibility, and strategic
investment to deliver the excellence

our community both expects and deserves.

As a school district, we just completed the first calendar year for collecting on the combined operating and bond issue passed by the community
May 4, 2021. As a reminder, the bond issue is a 30-year financial commitment that generates an estimated $77 million for our facilities.
The operational levy is a five-year commitment that generates an estimated $3.3 million per year for five years in operating funds with an option to place a renewal on a future ballot.

Indian Hill High School

#1 in Ohio!

Indian Hill School District

#7 in Ohio!

2022

Stakeholder support allowed us to start the work to Build a Brave Future for generations to come. A drive down Drake Road is proof that we are a campus under construction. The scope of work includes building a
new gymnasium and Unified Arts wing to replace the “sawtooth” at Indian Hill Elementary School, building a new Indian	Hill Middle School building, and making significant
safety and mechanical upgrades across

our campus.	CFO/Treasurer Mick Davis

We want to offer a sincere message              earned the Ohio of gratitude to the Indian Hill School              Auditor of State

for excellence in
financial reporting.
District community for supporting the excellent educational services our District provides, from our facilities to our unparalleled programming.

It is an exciting time to be a Brave.

Sincerely,	2022

2022 Best Communities for Music Education

Project Lead The Way Distinguished School in STEM three years & running!
IHHS is one of only 191 high school programs nationally to receive this distinction for the 2021-2022 school year!

Indian Hill Exempted Village School District is a 2022 Top Workplace! 8 Years Running

mick.davis@ihsd.us

0.7%
Conservative Fiscal Management

$300,000 in Ohio K-12 School Safety Grants Awarded
to Indian Hill School District

2022-2023 Ohio STEM Learning Network
STEM Classroom Grants

The Indian Hill School District was awarded $15,000 in total grants for science, technology, engineering, and math (STEM) studies at Indian Hill Elementary School and Indian Hill
Primary School!

Increased Enrollment

Confidence.

In making a choice to enroll in the Indian Hill School District, our families can feel confident their children – our students – will receive a superior K-12 educational experience. One that is nationally recognized for academic achievement, science, technology, engineering, and math (STEM) opportunities, and within
our arts and athletics. This school year, we celebrate increased enrollment within our lower grades. This is an absolute celebration for our entire Brave family. We have additional personnel to ensure we maintain a program equal to expectations as we continue to grow.

EXPENSE REPORT FOR YTD 2022

55.8% Salaries

1.4% Other Objects 0.7% Principal-Other
0.1%
Interest & Fiscal Charges

19.2% Benefits

14.1%

Purchased Services

3.7%

Supplies & Materials

3.1% Advances-Out

2.0% Capital Outlay

REVENUE REPORT FOR YTD 2022

68.7%

General Property Tax (Real Estate)

Restricted Grants-in-Aid

0.0% Advances-In

0.0%
All Other Financing Sources

17.4%

All Other Reve-nues

8.0%

Property Tax Allocation

3.2%

Unrestricted Grants-in-Aid

2.0%

Tangible Personal Property Tax

Tax Reductions & Bond Restructure

Continued Conservative Fiscal Management

Trust.

We know our investors expect fiscal responsibility; we work tirelessly to deliver on those expectations. Our taxpayers will see
a tax reduction as 1.18 mills from our 2001 bond expires in 2027. In 2019, a share of what residents paid on this bond expired – reducing the bond debt by 1.74 mills. In 2016, the District refinanced those 2001 bonds
to achieve taxpayer savings of $8.5 million. That savings for residents was in the form of reduced millage paid toward the bonds.

Partnership.

Despite inflation causing an increase in many of our expenditures, we continue to look for ways to trim expenses. Our partnership 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
is complete. Those improvements will result in a guaranteed energy savings of $154,528 annually.

Building a Brave Future

Update on Construction Finances

During 2022, our Board members were excellent stewards of the investment our stakeholders have made in our multi-building construction project, while working to stay true to the original project scope.

The Board of Education voted unanimously to approve a resolution providing the Board a supplemental borrowing option of $10.0 million

Indian Hill Primary School Main Entrance

Indian Hill Middle School/
Indian Hill High School Connector

to mitigate budget adjustments the master project is enduring due to inflation. This allowed the Board to take quick action to lock in interest rates prior to the steep incline on longer-term financing to cover additional costs.

We were able to achieve such a low rate, 3.75 percent, due to the Indian Hill School District’s Aaa credit rating; Indian Hill is one of an elite number of school districts – only two others in Ohio – with the Aaa rating.

Indian Hill Elementary School Unified Arts Wing

Indian Hill Middle School Entrance

Project timeline for all buildings:

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PROJECT PORCH

		

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MUNITY ANCE

COM ENTR

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VILLAGE GREEN

			

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DINING COMMONS

		
	
6TH NEIGHB
	
GRADE ORHOOD

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CONNEC
	
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Brave Constuction Zone

Callie Gibson (Class of 2020) & Jeff Gibson
December 2022
Go INSIDE the building

Skanska Construction, November 2022 Timelapse Video!

Ed Apfel, October 2022
Amazing Drone Video!

Monique Sewell September 2022
Take A Golf Cart Tour Of Construction!

See Construction LIVE!

TAKE A VIRTUAL TOUR OF THE NEW INDIAN HILL MIDDLE SCHOOL DESIGN!
Use your camera phone to access the design via QR code, and walk through the design renderings!

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ENTRANCE	WELCOME

Indian Hill Exempted Village School District 6855 Drake Road, Cincinnati, OH 45243
(513) 272-4500

facebook.com/indianhillschools @ihschools
Indianhillschools

indianhillschools.org The Indian Hill Exempted Village School District serves students
in the Village of Indian Hill, Kenwood, parts of Sycamore and Symmes Township, Camp Dennison and a small portion of Loveland.

Non-Profit Org. U.S. Postage PAID Cincinnati, OH Permit No. 197

		

Indian Hill Board of Education (L to R): Bear Tullis, Craig Sumerel, Niki Singh, Nancy Aichholz, Nolan Marx.

	
Did you see this?
Indian Hill Elementary School’s Betsy Henning named Personal Finance Educator of the Year

We celebrate Indian Hill Elementary School educator Betsy Henning, named The Alpaugh Family Economics Center at University of Cincinnati (UC) 2022-2023 Personal Finance Educator of the Year for her longstanding commitment to delivering real-world financial education to students.

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