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Finances

The upcoming Building Shaker Schools bond issue in November 2023 is a critical financial undertaking aimed at bolstering the infrastructure and educational facilities within the Shaker Heights City School District. The proposed bond issue seeks to raise funds to address pressing maintenance needs, modernize existing buildings, and construct new facilities to accommodate the growing student population and evolving educational demands. The current state of the district's schools necessitates urgent action, as wear and tear over the years have resulted in outdated classrooms, limited resources, and compromised learning environments.

To ensure the much-needed improvements, the bond issue will involve an increase in taxes for residents within the District. While this may raise concerns for some community members, it is essential to recognize that this investment is vital for the future of the students and the overall development of the district. By providing adequate funding through increased taxes, the Shaker schools can revamp their infrastructure, implement modern technologies, and create an environment that fosters optimal learning and growth for students.

As the November 2023 ballot approaches, the community will have the opportunity to come together and make a crucial decision that will shape the future of education in Shaker and reaffirm their commitment to the growth and success of our community's youth.

Finance and Audit Committee

Finance and Audit consists of a group of independent community members with financial expertise. As part of their charge, they provided a financial analysis for the Board’s consideration of the Resolution to Proceed. This included:

 

• Confirming that levy amounts would provide funding for aligned with current district forecasts

• Informing on the sensitivity of key assumptions underlying those forecasts

• Providing other analysis and conclusions as may be beneficial to the Board’s consideration 

Click the image below to view the Project Financial Analysis from the Shaker Heights City School District Finance & Audit Committee. 

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