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Elida Local Schools Financial Summit VI. Report to Stakeholders Fiscal Year 2010-11 Joel L. Parker,CPA. Introductions. Economic Outlook Financial Update Revenue Discussion. Goals. Review the financial condition of Elida Local Schools

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elida local schools financial summit vi

Elida Local Schools Financial Summit VI

Report to Stakeholders

Fiscal Year 2010-11

Joel L. Parker,CPA

introductions
Introductions
  • Economic Outlook
  • Financial Update
  • Revenue Discussion
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
discussion economy
Discussion - Economy
  • Modest signs of economic recovery
  • Unemployment decreasing
  • Housing Market – slight improvement
  • Rate of Inflation
  • Rate of health care inflation
concerns
Concerns
  • State budget gap
  • Tax delinquencies
  • Loss in state aid
  • Loss of inventory tax
  • Loss of interest income
  • No inflationary growth in revenue
  • Unfunded mandates
  • Vouchers
osba platform supports legislation that
OSBA Platform supports legislation that:
  • Provides a thorough, efficient education
  • Provides for inflationary revenue growth
  • Eliminates “Phantom Revenue”
  • Eliminates over-reliance on local property taxes
  • Prohibits Federal and State unfunded mandates
  • Requires all sectors of economy to pay a fair share of the cost of public education
ohio tax shift
OHIO TAX “SHIFT”
  • Remove Inventory Tax
  • Reduce Corporate Franchise Tax
  • Reduce Personal Income Tax
  • Good for business
  • Good for individuals
  • Result: Schools lose $3 billion
slide10

ADMINISTRATIVE EXPENSES

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

tax delinquencies
Tax Delinquencies
  • 2004 $440,608
  • 2005 $393,473
  • 2006 $320,795
  • 2007 $294,267
  • 2008 $468,576
  • 2009 $530,373
  • 2010 $444,274
  • 2011 $455,707
  • 2012 $467,324
  • Total $3,815,397
next 50 years
Next 50 Years
  • Where will lost revenue come from?
  • We cannot just increase fees like hospitals, colleges or private sector
  • Donner Budgeting Process
  • Dual credit example
what have we done to stay lean looking back 2003 04
WHAT HAVE WE DONE TO STAY LEAN?Looking back: 2003-04:
  • Administrative cuts $239,155
  • Administrative Wages - 0% increase 2 yrs
  • Streamlined food service – no general fund $
  • Moved staff to PPO insurance plan
  • Moved to partial pay to participate
  • Reduced bus fuel consumption
  • Cost sharing on health premiums
continued 2004 05 06
Continued 2004-05-06:
  • Withdrawal from ESC Alternative Program - $7,000
  • Attrition of one mechanic’s position - $58,472
  • Hire Own 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
the bottom line
Constant Review of Staffing

Meal Policy

American Express

Bus Idle

Share Ins Increases

Bulk Paper

Bid Property/Liability

Diesel Grant

Safe Route Grant

Dir dep/email PO

Turn down thermostats

Change drug company

No health ins R/R

New health plans

Auto lights switches

Bid projects

MAC Grants

Early bus buy

The Bottom Line:
cost reductions 2009 10
Cost Reductions: 2009-10
  • Review set points $74,000
  • Eliminate Teacher Academy $65,000
  • Re-route buses(4) $84,444
  • Reduce special ed teacher $76,102
  • Reduce MS Industrial Technolgy
  • Reduce MS Home Economics
and more 2010 11
And more 2010-11:
  • Consolidate choir position
  • Reduce MS teacher-(technology class)
  • Move Central Office secretary to HS
  • Reduce building budgets
  • Lean on grant $ for technology
  • Work on reductions in health care
  • Reduce bus routes
  • Review staffing
  • Pay off HB 264 Note early
  • Reduce guidance position (HS)
cost reduction spring 2011 update
Cost Reduction-Spring 2011/Update
  • Phase I- Cut 5 teachers, 1 Aide, 1 Guidance = $332,700
  • Phase II – Close Gomer
  • Phase III – EMS re-configure
wage freeze 2011
Wage Freeze -2011
  • Administrators – Another 2 yr freeze
  • Adm-same pay FY 11-12,12-13,13-14
  • All Others – 0 on base 2 years, steps year 1, no steps year 2
  • Savings $823,000
cuts cuts and more cuts fy 12 13
Cuts, Cuts and More Cuts-FY 12-13
  • Librarian – position to 3 days a week
  • Close Gomer Building
  • Reduce Central Office Director
  • Reduce Gomer Principal/teacher
  • EHS-reduce Success Program
  • EHS-reduce 1 teacher
  • EMS – reduce 1 teacher
  • EE- reduce 1 teacher
  • Reduce 1 aide
  • Reduce 1 secretary
  • Reduce 1.5 custodians
  • Total Savings $590,000
alternative funding
Alternative Funding:
  • Fieldhouse Renovation $350,000
  • Concession Building $150,000
  • Locker/weight room $100,000
  • Piano Fund
  • Safe Route Grant
  • BWC Grant – Buses $22,000
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 $2,845,756 48 days
  • 2012 $2,153,235 38 days
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%
  • 2010 - introduce HDHP plan
  • 2011 - Spousal coordination of benefits
  • Change in TPA and Consultant
  • 2012 – 2 plans (mid and high deductible)
slide35

FY Ended June 30, 2011

Total Revenue: $20,821,610

Instruction: $13,664,960

Instr.Staff Support: $ 496,088

Pupil Support: $ 605,048

TOTAL $14,766,096

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
  • FY 12 In $1.54 million Out $1.52 million
tax base
Tax Base

TANGIBLE PERSONAL

$5,116,935 -0-

-0-

-0-

-0-

RESIDENTIAL$100,017,980

$101,438,990

$108,803,850

$105,507,940$108,714,380

2008

2009

2010

20112012

discussion
DISCUSSION

How do we address declining revenue, remain

lean operationally, and still provide excellence

in education?

levy options
Levy Options
  • Emergency Property Tax Levy - up to 10yrs set amount
  • Traditional Income Tax - any yr,C -.25 increments
  • Earned Income Tax -any year,C- .25 increments
  • Combined Ballot Questions (property tax levy + earned income tax) - property tax-up to 10 or C, fixed amount plus .25 increment of earned income tax will float with economy
levy timeline future dates
Levy Timeline-Future Dates
  • May 2010 Renewed Emergency Levy
  • Fall 2012 New money levy
  • 2013 PI Levy Continuing
  • 2013 or14 Bond Issue EE-OSFC
  • 2014 Renew Emergency Levy
  • 2016 Renew 2012 Levy
  • 2019 Renew Emergency Levy
  • 2021 Renew 2012 Levy
  • 2024 Renew Emergency Levy
  • 2026 Renew 2012 Levy
  • 2029 Renew Emergency Levy