ODE School Finance and Funding Flashcards

What is the primary state funding formula used in Ohio to distribute education funds to school districts?

Answer: Fair School Funding Plan (FSFP)

Ohio's Fair School Funding Plan (FSFP), enacted in 2021, is the primary formula used to distribute state education funds to districts based on cost-based calculations.

Which local revenue source provides the largest share of school district funding in most Ohio districts?

Answer: Property taxes (real estate and public utility)

Property taxes, including real estate and public utility taxes, are the primary source of local revenue for most Ohio school districts.

What is an Ohio school district 'levy' in the context of school finance?

Answer: A voter-approved local tax to generate additional revenue for school operations or capital needs

A school levy is a voter-approved local property tax that generates additional revenue for a district's operating expenses or capital improvements.

Under the Fair School Funding Plan, what does the 'base cost' represent?

Answer: The calculated per-pupil cost of providing an adequate education, based on resource modeling

The base cost under Ohio's FSFP represents the per-pupil cost of an adequate education, calculated through a resource-based cost model.

What is the purpose of Ohio's 'charge-off' provision in school funding?

Answer: It reduces state aid to wealthier districts that can generate more local revenue

The charge-off provision reduces state aid to property-wealthy districts because they are expected to generate more local revenue to fund their schools.

Which state agency is responsible for auditing Ohio school district finances?

Answer: Ohio Auditor of State

The Ohio Auditor of State is responsible for auditing the financial records of Ohio school districts to ensure proper use of public funds.