At the Indian Hill School District, we strive to be excellent stewards of the financial investment our taxpayers make in our District. This new year, investors within our District have three significant reasons to celebrate: lower taxes as a result of District bond management; a history making public-private partnership to strategically invest in our facilities; and, an opportunity to utilize Ohio Checkbook.
Tax reduction in 2019
As I communicated with you in October 2018 as part of the five-year financial forecast, within the forecast, it was evident that the District did a great job managing the last bond issue – structuring the refinancing of bonds to achieve taxpayer savings of $8.5 million. That savings for residents comes in the form of reduced millage paid toward the bonds. Effective this year, a significant share of what residents pay on this bond expired – reducing the bond debt by 1.74 mills. That means an annual savings of $304 on a $500,000 home, and an annual savings of $609 on a $1 million home.
Home of the Braves
Operational Efficiency and Effectiveness – at the Indian Hill School District this is a key focus area within our G.O.L.D. strategic plan for transformational excellence. Key to that is optimizing resource utilization. With that goal in mind, during 2018 the District – in partnership with the Indian Hill Foundation – launched a bold and visionary effort to complete an athletic complex to better serve our community and the most students possible. The District saw this as an opportunity to use money already allocated within our capital plan to address serious and substantial athletic facility needs within Indian Hill Middle School and Indian Hill High School, and partner with private donors through the Indian Hill Foundation to increase and expand our ability to create a better facility that will serve even more student-athletes. Now called Home of the Braves, this effort marks the first-ever public-private partnership with the Indian Hill Foundation and private donors to complete a capital campaign.
Home of the Braves athletic complex will create:
• New Multi-Purpose Athletic Facility providing upgraded field-side team locker rooms, officials meeting space and storage, accessible restrooms and new concessions adjacent to Tomahawk Stadium and the Upper Fields; projected use by 350+ student-athletes and audiences at events utilizing the athletic complex
• Braves Welcome Plaza tying together athletic complex facilities and creating a community gathering space for celebrations with a monumental stair to connect the upper and lower fields; gateway improvements, new ticket booth, and lighting to enhance safety.
This is a unique opportunity to build a legacy for our children.
Finally, in an effort to provide every opportunity possible for our residents to have access to our shared financial investment, the Indian Hill School District has partnered with Ohio Checkbook. Managed by the Ohio Treasurer’s Office, Ohio Checkbook gives residents online access to our District’s money management. The Indian Hill School District section will be available early this year.
Sharing our financial story is of the utmost importance to our Board of Education, and to our District. As your treasurer, I will continue to provide you timely financial updates. As always, I thank you for your continued support of the excellent educational services we provide within the Indian Hill School District. Should you have any questions about our District’s finances, please contact me directly.
Posted January 16, 2019