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Elida Local Schools Financial Summit V. Report to Stakeholders Fiscal Year 2009-10 Joel L. Parker,CPA. Introductions. Economic Outlook Federal Programs. Goals. Review the financial condition of Elida Local Schools Expand the knowledge base on school funding issues

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Elida local schools financial summit v

Elida Local Schools Financial Summit V

Report to Stakeholders

Fiscal Year 2009-10

Joel L. Parker,CPA


Introductions
Introductions

  • Economic Outlook

  • Federal Programs


Goals
Goals

  • Review the financial condition of Elida Local Schools

  • Expand the knowledge base on school funding issues

  • Review data for future financial planning

  • Exchange ideas on “best practices”

  • Encourage dialogue on future economic trends


Trivia
Trivia

  • $65,000

  • $38,000

  • $2,080

  • $10,000

  • $33,658

  • Indiana Schools


Concerns
Concerns

  • State budget gap- $5-$10 billion

  • Projected loss to Elida FY 12- $1.6 to $2.1 million(what is coming?)

  • Tax delinquencies

  • Loss in state aid

  • Tax payer still hurting from recession

  • Unfunded mandates


Perfect storm
Perfect Storm

  • Loss in stimulus $510,083

  • Loss in inventory tax $364,235

  • Loss in inventory tax $364,235

  • Foundation $129,560

  • Foundation $211,376

  • Inflation on expenses

  • Levy fatigue


Legislation
Legislation

  • SB 5 Collective Bargaining Reform

  • HB 69 Pension Reform

  • HB 136 Charter/voucher expansion

  • HB 153 Budget Bill



Charter voucher concerns
Charter/Voucher Concerns

  • OVA $146,102 /23 = $6,352

  • Elida Cupp Report = $2,684



What have we done to get lean
WHAT HAVE WE DONE TO GET LEAN?

  • Staff cuts

  • Administrative cuts $239,155

  • Administrative Wages-0% increase 2 yrs

  • Streamlined food service

  • Moved staff to PPO insurance plan

  • Moved to pay to participate

  • Passed a levy in 2005 to bring back specific programs

  • Reduce bus fuel consumption

  • Think long term

  • Savings on Retire/Rehire

  • Sharing on health premiums


Continued
Continued

  • Withdrawal from ESC Alternative Program - $7,000

  • Not replace mechanic - $58,472

  • Hire Psychologist - $9,923

  • 2004-05 one less teacher at EE

  • 2005-06 one less teacher at EE and HS

  • Partner with WCLA on software $14,000

  • Review SF6 billing - $24,000


What have we done to get lean1

Review Staffing

Meal Policy

American Express

Bus Idle

Share Ins Increases

Bulk Paper

Bid Property/Liability

Diesel Grant

Safe Route Grant

Dir dep/email PO

Hire maint. person

Turn down thermostats

Change drug company

No health ins R/R

New health plans

Auto lights switches

Bid projects

MAC Grants

Early bus buy

What have we done to get lean?


What have you done lately
What have you done lately?

  • Review set points $74,000

  • Reduce Teacher Academy $65,000

  • Re-route buses(4) $84,444

  • Reduce special ed teacher $76,102


What will you do next year
What will you do next year?

  • Consolidate choir position

  • Reduce MS teacher-(technology class)

  • Move Central Office secretary to HS

  • Reduce building budget

  • Lean on grant $ for technology

  • Work on reductions in health care

  • Reduce bus route

  • Review staffing

  • Pay off HB 264 Note early


Cost reduction spring 2011
Cost Reduction-Spring 2011

  • Phase I- Cut 11.5 teachers $878,000

  • Phase II – Close Gomer $433,000

  • Phase III – EMS re-configure $275,000

  • Phase IV – Return to ½ K $240,000

  • TOTAL $ 1,826,000


Wage freeze
Wage Freeze

  • Administrators – 2 yr freeze

  • All Others – 0 on base 2 years, steps year 1, no steps year 2

  • Savings $823,000


Fund raising efforts
Fund Raising Efforts

  • Fieldhouse Renovation $350,000

  • Concession Building $150,000

  • Locker/weight room $100,000

  • Piano Fund

  • Safe Route Grant


Performance indicators
PERFORMANCE INDICATORS

  • Carry-over Growth 1-5%(update)

  • Strength of Carry-over - 60 day(update)

  • 85% Rule on Salaries and Benefits(update)

  • Review Levy Cycles

  • Debt to Total Assets

  • Residential Tax Rate

  • Per Pupil Spending (vs. other schools)


74Day Cash Balance!

60 DAY CASH BALANCE ALMOST A REALITY


June 30 carry over a new cycle
June 30 Carry-Over: A New Cycle

  • 2000 $1,048,819 23 days

  • 2001 $ 758,675 17 days

  • 2002 $ 821,146 18 days

  • 2003 $ 360,933 8 days

  • 2004 $ 967,429 21 days

  • 2005 $1,865,900 39 days

  • 2006 $2,645,703 53 days

  • 2007 $3,496,376 68 days

  • 2008 $4,071,288 76 days

  • 2009 $4,127,565 74 days

  • 2010 $3,454,672 60 days

  • 2011 $2,702,030 47 days (estimate)


Health insurance
Health Insurance

  • 1/1/09 Medical Rate Increase 15%

  • 1/1/09 Dental Rate Increase 20%

  • 1/1/09 New Plan MDHP Developed

  • 1/1/10 New High Deductible Plan

  • 1/1/10 Medical Rate Increase 20%

  • 1/1/10 Dental Rate Increase 20%

  • Meeting this year to introduce HDHP plan

  • Continue discussions on spousal coordination of benefits

  • What are you doing/seeing???


Health care
Health Care

  • 2011-Spousal language

  • Increase employee share(20,15,10)

  • 3 plans(low,mid,high ded)

  • Change TPA

  • Change consultant






Audit report
AUDIT REPORT

  • Performed every year

  • Cost to taxpayers $16,000

  • Cash basis (saves taxpayers $10,000-$13,000 each year)

  • Tests are performed on accounts payable, payroll, compliance with ORC, fund raising, athletics, food service, grants, etc.

  • Clean opinion

  • No adjustments


ADMINISTRATIVE EXPENSES

Administration: Salaries for administrators, office staff, and office supplies



State budget concerns fy 2010
State Budget Concerns-FY 2010

  • CAT $ 1.3 billion new

  • Corporate Franchise Tax 1.1 billion loss

  • Tangible Property Tax 1.6 billion loss

  • Income Tax 2.1 billion loss

  • NET LOSS 3.5 billion in state revenue

  • 10 year job loss – 210,000 manufacturing

  • 10 year job loss- 4,000 Allen County

  • BUDGET GAP $5-$10 BILLION????


Levy timeline future dates
Levy Timeline-Future Dates

  • May 2010 Renew Emergency Levy

  • Fall 2012, 2013 Renew PI Levy

  • 2012, 2013 Levy Discussion

  • 2012-2013 OSFC Issue

  • 2014,2015 Renew Emergency Levy


Revenue shortfalls ernie strawser sbo quarterly
Revenue Shortfalls-Ernie Strawser SBO Quarterly

  • Ohio’s income tax down by 12%

  • By FY 2011- 9% of state education budget supported by stimulus $

  • Unemployment at 11% (difficult to achieve tax revenue at pre-recession levels(would take 2 years to respond)

  • In 30 years, never witnessed greater challenges for schools


Open enrollment
Open Enrollment

  • FY 07 In $535,000 Out $1.3 million

  • FY 08 In $597,000 Out $1.4 million

  • FY 09 In $912,000 Out $1.5 million

  • FY 10 In $1.24 million Out $1.48 million

  • FY 11 In $1.38 million Out $ 1.6 million



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