Mentor Schools Quality Profile Report 2023 - Flipbook - Page 11
excellence in financial reporting
>> Mentor Public Schools earned the Cer}昀椀cate of
Achievement from the GFOA for Fiscal Year 22!
-Government Finance O昀케cers Associa琀椀on of the United States and Canada
Fiscal Stewardship
>>The Board of Educa}on has created 昀椀ve 昀椀scal beliefs to ensure 昀椀scal prudence in every spending decision made by the Board of Educa}on, Superintendent and Chief Financial O昀케cer.
>>The school district is commi琀琀ed to managing to long-term plans that
include:
The District Strategic Plan
Enrollment Projec}ons
Five-Year Budget Plan
Capital Repair Plans
Technology Plan
Classroom Furniture Plan
Vehicle Replacement Plan
>>The Board of Educa}on appoints a Ci}zens Financial Advisory Commi琀琀ee
to bring a business perspec}ve to the oversight of the 昀椀scal management of the school district.
>>The leadership team uses enrollment studies to track the decline in the student popula}on that began in 1996. This is an important
昀椀nancial indicator due to sta昀케ng. You may remember, peak enrollment in Mentor Schools happened in the 1990s with more than 11,000
students in our schools compared to 7,000 a琀琀ending our schools today. One way we were able to cut costs in the past was to reduce
sta昀케ng numbers propor}onately as student enrollment declined, but enrollment is projected to remain steady in our community in the
coming years. We are currently opera}ng at acceptable teacher-pupil ra}os in order to provide the well-rounded, high-quality educa}on
the children of our community need and deserve.
>>The actual and expected student enrollment aligns with the district’s implementa}on of a Facili}es Management Plan in 2018-2019,
where the decision to go from opera}ng three middle schools to two and eight elementary schools to seven was put into e昀昀ect. The need
to condense schools was a result of con}nued declining enrollment in Mentor Public Schools and having to make appropriate facili}es
adjustments as part of our commitment to 昀椀scal responsibility with our taxpayer dollars. The Facili琀椀es Management Plan was projected to
save more than $1 million a year over the term of the 昀椀ve year 昀椀scal projec琀椀ons.
>>As part of the Facili}es Management Plan, the former Dale R. Rice Elementary School building was sold in April 2020 for $400,000 and
the Brentmoor Elementary School building was sold in June of 2019 for $600,000. State law requires that proceeds
from the sale of real estate be deposited into the permanent improvement fund.
>>Mentor Schools takes pride in its school buildings, facili}es and grounds located across Mentor and Mentor-on-the
-Lake. Along with its schools, the district owns a total of 16 proper}es valued at $307 million, including both the largest indoor and outdoor spaces with sea}ng available for community use in Lake County. These facili}es are assets to
our community and are well-maintained via a 昀椀ve-year Permanent Improvement (PI) plan, with projects funded
based on established need.
Financial Report
>>The Board of Educa}on, Chief Financial O昀케cer and Superintendent aggressively pursue non-tax revenue sources
including: private grants; selling business and opera}ons services; major corporate partnerships; cell phone towers;
facility rentals; professional development services; and more.
>>Mentor Schools earned a four-star StaRS ra}ng from the Ohio Auditor’s O昀케ce, which is the