Mentor Schools 2021 Quality Profile Report - Flipbook - Page 12
Fiscal Stewardship
Financial responsibility ensures that we receive good value for every dollar spent.
The Mentor Board of Education is committed to prudent fiscal management of the school district’s resources with the
goal of ensuring adequate funding to sustain the strategic plan and high quality education for our community’s children.
The Board of Education has adopted five specific policies to
guide the fiscal management of the district and requires
budgeting that funds a quality education for students within
the district’s strategic plan and fiscal plan.
The Board of Education has created five fiscal beliefs to ensure fiscal prudence in every spending decision made by the
Board of Education, Superintendent and Chief Financial
Officer.
The Chief Financial Officer has developed several high level
key financial indicators for the Board to monitor to ensure
structurally sound budgets and the fiscally prudent execution of the budget plan.
The 2020-2021 school year was the 18th consecutive year during which the district underspent its budget. However, the
school district began to deficit spend (current year expenses exceeding current year income) for the first time in several
years and is not projecting a balanced budget by the end of the five-year fiscal forecast.
Even with federal COVID relief funds, during the 2020-2021 fiscal year the negative impact of extra expenses related to the
COVID-19 crisis was $2.4 million. See more about the FISCAL IMPACT OF THE COVID-19 CRISIS via the chart below.
The school district is
committed to managing to
long-term plans that include:
The District Strategic Plan
Enrollment Projections
Five-Year Budget Plan
Capital Repair Plans
Technology Plan
Classroom Furniture Plan
Vehicle Replacement Plan
The Board of Education
appoints a Citizens Financial
Advisory Committee to bring a
business perspective to the
oversight of the fiscal
management of the school
district.