Finance Facts

Dec. 29, 2023

Accountable to our community, the Solon City Schools look to maximize savings wherever possible. One way the district accomplishes this is through participation in the Ohio Schools Council, which leverages the cooperative purchasing power of a consortium of school districts through volume discounts. The district has participated in the Ohio Schools Council for many years and has reaped savings benefits from cooperative purchases of goods and services ranging from school buses and security enhancements to software and energy. 

A 2022-23 school year Statement of Savings for the district from the Ohio Schools Council shows just under $64,000 in savings for items such as natural gas ($46,306), security film ($10,359), media center software ($3,888) and a safety plan program ($2,400). Since 2018, the district has realized $112,510 in cumulative savings in natural gas energy costs alone through the Ohio Schools Council, providing more budget certainty. 

At the same time, pursuing opportunities for savings is not nearly enough to overcome the complexities and limitations of school funding in Ohio. 

To address large-scale increases in property values in the mid-1970s, Ohio enacted legislation to curb inflationary growth in local property taxes. The provisions in the law, HB 920, were codified in Ohio’s Constitution in 1980. HB 920 limits local real estate revenues for schools by imposing an inflationary cap that does not allow funds to school districts to increase with the addition of new homes or higher-valued homes in the community. The law restricts school revenues, prohibiting them from rising with inflation. So although it seems counter-intuitive, revenue to schools from property taxes do not increase on a per-home basis. HB 920 is one of the most restrictive property tax limitations in the country, according to the Ohio Education Policy Institute.

Delving into all the specifics and nuances of HB 920 and its full impact on Solon and Glenwillow residential and business taxpayers is difficult in a newsletter such as this. To enable you to read more in depth about HB 920 and the limiting effect it has on schools – especially in a district like ours that is heavily reliant on local support due to low state funding – we encourage you to read the Ohio Education Policy Institute’s white paper on HB 920 linked here and posted on the district website under About Us/Finance. 

We will continue to share information about how the Solon Schools are funded to build understanding throughout our community. If you have questions about school funding at any time, please reach out to Superintendent Fred Bolden or Treasurer Tim Pickana.