GENEVA’S EDUCATIONAL BALANCE SHEET
April 9, 2023
It’s school budget season, which means lots of talk about tax bills.
It’s also a good time to look at education’s role as an economic driver, rather than a financial drain.
Geneva 2030 has assembled a balance sheet outlining the critical function education has in the local economy – from job creation to incoming revenues to the rising wages that accompany higher educational attainment.
Source: American Community Survey, 2021
The above graphic shows the importance of education as a provider of jobs in Geneva. According to the U.S. Census Bureau, more than 1,000 Genevans – 17% of the civilian employed population in the city in 2021 – worked in educational services. The only sector employing more people was health care and social assistance, with an estimated 1,351 workers.
THE CENTRAL ROLE OF THE SCHOOL DISTRICT
The Geneva City School District reported 463 full-time positions in 2020-2021, including 227 teachers.
The district’s proposed budget for 2023-2024 totals $68 million, an increase of 6.43% over the prior year. Sixty percent would be paid by state aid, while 31.6% would be funded by local taxes. State money to the Geneva schools would total $40.8 million.
The Association of School Business Officials has developed an online tool to measure the economic impact of school district spending across New York State. Choose the Geneva CSD on this page to see the organization’s estimates for 2020-21.
HOBART AND WILLIAM SMITH COLLEGES
Of course, Geneva also benefits from its status as a college town. The presence of Hobart and William Smith Colleges supports the community in ways direct and indicrect. A recent study by the by the Council of Independent Colleges and Universities found that HWS boosted the local economy by more than $200,900,000 in 2020-2021. The review assessed spending on research and development, construction, technology, salaries and other operating expenses, plus spending by students and visitors.
The colleges’ impact declined from a study measuring data four years earlier, when the total was estimated at $254 million. Both student enrollment and staff size also fell during that period. In the fall of 2020, HWS had 201 faculty. In 2016, faculty numbered 237.
Clearly, the success of HWS and the health of the local economy are closely intertwined. As a nonprofit, HWS is exempt from property tax. However, under an agreement with the city, it is paying local government nearly $2.4 million for services over a 10-year period from 2022 to 2031.
FINGER LAKES COMMUNITY COLLEGE
FLCC opened the new Campus Center in Geneva in 2016, after offering courses for years at various locations in the city. The college is currently conducting an economic impact study. We’ll update this page when that report becomes available.
OVERALL EDUCATIONAL ATTAINMENT
The most important part of our balance sheet concerns the education of Geneva’s citizens, both young and old. Greater educational attainment translates into higher household income, lower unemployment rates and a more robust local economy. Here are national statistics compiled by the Bureau of Labor Statistics:
Source: National data for persons 25 and older, Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor Statistics.
Here is a snapshot of educational attainment statistics for Genevans:
