ODE School Finance and Funding Flashcards

What is an 'Emergency Manager' in the context of Ohio school district fiscal oversight?

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.

Under Ohio law, what is the 5-Year Financial Forecast that school districts must file?

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.

What does 'ADM' stand for in Ohio school funding calculations?

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.

Which category of students generates additional 'weighted' state funding above the base amount under Ohio's FSFP?

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.

What is a 'bond issue' in Ohio school finance?

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.

What is the Ohio School Facilities Commission (OSFC) responsible for?

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.