Funding

 

How Will Lakota Fund the Plan?

Knowing a master facilities plan would be adopted by the Board in the near future, Lakota's finance leadership has been laying the groundwork to ease the burden on the taxpayers as much as possible.

State Assistance

The Board of Education has enrolled in Ohio's Expedited Local Partnership Program (ELPP), and the district will receive 32% state reimbursement for work its final master facilities work. That means for every dollar spent, the state will reimburse Lakota 32 cents, making future projects more affordable.
 

District Planning

By taking advantage of lower interest rates and restructuring its debt, Lakota's finance team has saved taxpayers several million dollars. The district has restructured its debt with the goal to pay it off sooner versus decreasing the millage rate. Lakota has shifted its strategy from lowering millage rates over time to maintaining a consistent millage for a shorter period of time.

The district purposefully restructured its debt to minimize the impact of a new bond issue, which would be required to finance the Master Facilities Plan. The last time Lakota was on the ballot was in 2013.