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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)
slide20

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
slide32

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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