CELINA - Celina City Schools says a policy change by the Ohio Facilities Construction Commission could bring major financial relief to the district’s ongoing building project.

According to the district, Celina Board of Education members and the administrative team have spent multiple years working to address concerns with an OFCC policy tied to the project. District leaders said the policy centered on how interest earned on Celina’s local funds was being applied to cover increased construction costs.

Under the previous policy, both Celina’s interest earnings and the State’s interest earnings had to be used first to cover project cost increases. Only after those funds were exhausted would the remaining balance be divided according to the original 49 percent State and 51 percent local funding agreement. The policy also required future interest earnings to continue being applied before that split.

District officials said that as of March, Celina’s interest earnings totaled $4,479,190, compared to $486,638 in State interest earnings. Because those funds remain on deposit until they are needed for construction, district leaders said Celina’s share of the project would have continued to grow disproportionately under the old policy.

Celina Schools now says OFCC has notified the district it will introduce changes to that policy in response to Celina’s petition and advocacy. The district said a second amendment to its contract is expected to reflect that change, pending approval at all required OFCC levels.

According to the district, the revised policy will result in OFCC committing an additional $1,479,807 to the project, reducing Celina’s required contribution by the same amount.

The district also said all current and future interest earned on Celina’s funds will remain with Celina to pay its share of the project, while OFCC will retain and use only the interest earned on the State’s portion to cover its share.

District officials said they are still analyzing the full financial impact, but believe the change will result in more than $2 million in positive benefit to Celina Schools. They said those dollars could be directed toward future facilities projects that support students and the community.

In a statement, district leaders called the move a major win for Celina, local taxpayers, and school districts across Ohio.