ODE ODE School Finance and Funding 2 — Questions and Answers
Question 1: What is an 'Emergency Manager' in the context of Ohio school district fiscal oversight?
- A state-appointed official who oversees a district declared in financial emergency (Correct answer)
- An ODE inspector who reviews curriculum during a state audit
- A federal monitor assigned to districts receiving Title I funds
- A superintendent hired after a district loses accreditation
Correct answer: A state-appointed official who oversees a district declared in financial emergency
An Emergency Manager is appointed by the state to oversee a school district declared in financial emergency, taking control of fiscal operations.
Question 2: Under Ohio law, what is the 5-Year Financial Forecast that school districts must file?
- A federal requirement for Title I spending projections
- A state-required document projecting a district's revenues and expenditures five years into the future (Correct answer)
- An annual audit report submitted to the Ohio Auditor of State
- A budget proposal submitted to the local school board for approval
Correct answer: A state-required document projecting a district's revenues and expenditures five years into the future
Ohio law requires school districts to file a 5-Year Financial Forecast twice yearly, projecting revenues and expenditures to identify potential fiscal problems.
Question 3: What does 'ADM' stand for in Ohio school funding calculations?
- Annual District Measure
- Average Daily Membership (Correct answer)
- Allocated District Multiplier
- Assessed District Millage
Correct answer: Average Daily Membership
ADM stands for Average Daily Membership, which is the count of students enrolled and used to calculate state funding allocations for Ohio districts.
Question 4: Which category of students generates additional 'weighted' state funding above the base amount under Ohio's FSFP?
- Students enrolled in honors courses
- Students with disabilities, English learners, and economically disadvantaged students (Correct answer)
- Students participating in extracurricular activities
- Students enrolled in AP or dual enrollment courses
Correct answer: Students with disabilities, English learners, and economically disadvantaged students
Ohio's FSFP applies funding weights for students with disabilities, English learners, and economically disadvantaged students, generating additional state aid above the base.
Question 5: What is a 'bond issue' in Ohio school finance?
- A state loan provided to districts in fiscal emergency
- A voter-approved borrowing mechanism that allows a district to fund capital construction projects (Correct answer)
- A penalty assessed for deficit spending
- A state grant for technology infrastructure
Correct answer: A voter-approved borrowing mechanism that allows a district to fund capital construction projects
A bond issue is a voter-approved form of borrowing that allows Ohio school districts to fund capital projects such as building new schools or major renovations.
Question 6: What is the Ohio School Facilities Commission (OSFC) responsible for?
- Setting teacher salary schedules across all Ohio districts
- Partnering with districts to fund and oversee school building construction and renovation projects (Correct answer)
- Distributing federal Title IV technology grants to schools
- Approving school district budgets before they are adopted locally
Correct answer: Partnering with districts to fund and oversee school building construction and renovation projects
The Ohio School Facilities Commission (OSFC) partners with local school districts to fund and manage construction and renovation of school buildings.
ODE ODE School Finance and Funding 2
What is an 'Emergency Manager' in the context of Ohio school district fiscal oversight?