Endowment Fund:

The Crestline Exempted Village Schools Endowment Fund was formed in January 2001 in partnership with the Bucyrus Area Community Foundation. To date the endowment fund has given $33,206.89 in cash awards to various teachers in the Crestline School System and will continue in perpetuity.

The Crestline Exempted Village Schools Endowment Fund gives grants to the teachers of the Crestline School System for projects and supplies that they were otherwise not have available. Such examples of the grants that have been given in the last ten years are: sent 10 students to the Eighth Grade Outdoor School; lab supplies, books, art supplies, calculators and general supplies for class rooms; donation to High School Student Council; books and newspapers subscriptions for the libraries; flip cameras for grades 9-12; FM system for children with moderate to severe hearing loss; donation to class trip to the Mock Congress in Washington D.C.; classroom amplification system; computer chairs.

Anyone who wishes to help the Crestline Exempted Village School Endowment Fund or make a contribution in memory of a classmate or teacher may send their tax deductible contributions to the Bucyrus Area Community Foundation, P.O. Box 387, Bucyrus, Ohio 44820 or through their website: http://www.bacfoundation.org

School Funding:

All public schools in the state of Ohio are funded through state & local taxes, state, local, & federal grants, fees, donations, and enterprise operations. The vast majority of Crestline’s operating revenues come from a combination of local funding and state-level support through the state foundation.

The majority of local funding comes from real property taxes, which are taxes levied on land and structures within the Crestline Exempted Village School District.

Income tax levies can be another local revenue source for schools. The current Income Tax Rate for Crestline Exempted Village School District is 0.25%.

Additional local income was derrived from a tax place on furniture, fixtures, and equipment (FFE) of local businesses, but this tax, known as tangible personal property tax, has been eliminated through legislation. This elimination represented a significant decrease in revenue for the Crestline Exempted Village School District.

Federal grants and entitlements make up a very small portion of Crestline’s operating revenues. These grants and entittlements are primarily directed for purposes such as reading instruction, technology, and special needs. The federal government does not generally fund operations of public K12 schools in the United States.

The State Foundation is the system the state uses that controls and appropriates funding for public school districts. The Foundation uses a complex formula that accounts for sctudent enrollment, local taxes revenues, special needs ratios, as well as other metrics to arrive at an annual funding amount, disbused in twice-monthly payments. As of the 2011-12 school year, the state foundation payments comprised about 46% of Crestline’s operating revenues.

Homestead Reimbursements are payments to the district for credits given to property owners on their tax bills by the state. This amount varies year to year due to the valuation of property and total real estate tax receipts for the district.

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