The district is the eighth largest in Ohio and the second largest in Southwest Ohio.
It’s the latest in series of cost-cutting savings by district officials, said Lauren Boettcher, spokeswoman for Lakota Schools.
Compared to 2010, Lakota is spending $15 million less in operations costs and now projects to have a 150-day cash balance — or operating expenses for that time period — by 2020, which is up from the 60 days cash balance in 2013.
Moreover, the district has lowered by $14 million its overall labor costs, which comprise about 80 percent of the total operating budget for Lakota and most Ohio school districts, compared to 2010.
Last week’s bond re-financing is the latest in a series of cost-cutting savings by district officials, said Lauren Boettcher, spokeswoman for Lakota Schools.
“We are proud of the fact that we are operating on balanced budget and have been for quite some time now,” she said.
“That’s not as much as a result of cutting costs. It’s more that we’re living within our means and containing costs in every way possible. That includes measures like refinancing our bonds. Every savings we can manage gives us that much more latitude to provide more opportunities to our students,” she said.
In 2013 voters in the Lakota district approved a new operating tax that helped the previously financially struggling school system.
“The levy dollars are being used exactly as we committed to using them, for things like enhanced safety and security and a more modern delivery of instruction, including enhancements to our technology infrastructure,” said Boettcher.