Post on 06-Apr-2018
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REVIEW OF DISTRICTFINANCES
Willoughby-Eastlake City Schools
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Ohio Districts in Fiscal Caution, Watch & Emergency inFY 2011
Emergency
Oversight Yellow
Fiscal Watch BlueFiscal Caution -Red
Source: Ohio Department of Education
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Ohio Districts in Fiscal Caution, Watch & EmergencyFY 2012 Projected
Emergency
Oversight Yellow
Fiscal Watch BlueFiscal Caution Red
Source: Ohio Department of Education
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Ohio Districts in Fiscal Caution, Watch & EmergencyFY 2013 Projected
Emergency
Oversight YellowFiscal Watch Blue
Fiscal Caution Red
Source: Ohio Department of Education
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Ohio House Bill 920 Challenge:
Matching Expenses to Revenue
Revenue
Years
4 8 120
$
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FY 2012 State Budget Cuts
TPP $1.6Million
ElectricDeregulation
$1.5 Million
Loss of 9% of
StateFoundation/21% in State
Reimbursement
FY 2012
DecliningHome ValuesInside Millage
- $700,000
FailedLevy
8.75Million
Total Loss
- $13.4Million
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Ohio House Bill 920 Challenge Coupled with Reductions in
Funding (Revenue)
Years
4 8 120
$
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Current Five-Year Forecast (9/6/2011)
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Sources of General Fund RevenueFiscal Year 2011
Real Estate58.1%
Personal Tangible0.1%
Public Utility Tangible5.6%
Rollback17.4%
State Funding15.7%
Miscellaneous3.1%
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General Fund Expenditures
Fiscal Year 2011
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5 YearForecast
ASSUMPTIONS:
$4.99 Mill operating levy passage inMarch,2012
No otherchanges
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Levy Passes -Five-Year Forecast (9/6/2011)
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Budget Reductions - Yearly SavingsAREAOF REDUCTION DESCRIPTION SAVINGS
Transportation Possible outsourcing oftransportation $1,200,000
Pay-to-Participate Increases begin in 2012/13 schoolyear regardless of levy passage $120,000
Closing McKinley Over 8 million in repairs required $600,000Opening Kennedy Educating at least 55 W-E
students who are outsourced $600,000
Centralized Purchasing Utilization of EASi (reverseauctions) to net an 18.5% savings
in purchase of supplies
$1,047,000
Transportation of SpecialNeeds Students
Moving from van service back tobuses $550,000
H.B. 264 Projects Energy conservation program $455,000
Advertising Website exploring other options
$25,000
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Lay-Offs
DEPARTMENT/AREA NUMBER OF RIFs
Administrators/Supervisors 7
K-12 Teachers 19
High School Teachers 18Middle School Teachers 9
Elementary Teachers 4
Custodians 5
Food Service Workers 7
Secretaries 7.5
Teacher Aides/Noon Aides Schedule Driven
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Estimated Total ofExpenditure
Reductions & Revenue GenerationPer Year
$12,744,500
8% avg. decrease in pay
per employee!
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5 YearForecast
ASSUMPTIONS:
$4.99 Mill operating levy passage in March,2012Contractratifiedandadditional costsaving
measures implemented
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Five-Year Forecast (1/16/2012)
2.2
4.8
6.0
2.2
- 6.6
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Impacts
Additional lay-offs
Increased class sizes
Reduced course offerings
Diminished property value
Reduction in busing to state minimums (two mile radius and nohigh school busing)
Increase in Pay-to-Participate: High School Sports - $600.00 per sport / Football - $725.00
Middle School Sports - $500.00 per sport / Football - $625.00
No field trips
Elimination of daily flexible busing no transportation for Techand elimination of the Zenith program
Elimination of All-Day Kindergarten programming
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Research on Property Values
Field Guide to SchoolsAnd The Home Buying Decision(Updated August 2011)
Of all the local neighborhood amenities that can influence a buyer's
decision to purchase a home, proximity to good quality schools is one
of the most influential. According to the 2010 National Association of
REALTORS Profile of Home Buyers and Sellers, the most frequently
asked questions of home buyers listed is the school quality and
proximity to schools as deciding factors in their home purchase. This
Field Guide includes articles and studies on the importance of schools
for home buyers and how schools impact localproperty values, alongwith a sampling of Web sites thatprovide data on school districts.
(C. Dodge, Information Specialist)
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Research on Property Values
"Without a doubt the 'right' school district
increases value by 12 to 14 percent in my area
even in today's market," said Maria Picardi-
Kenyon, a long-time Realtor located in NewJersey. "I've spoken with many clients who are
convinced that a preferred school districtprovides
as much as 20percent or more value to a home."
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Housing Prices and Measures Of School Quality
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Home Values in Ohio
2011 4.2% declinein home values in
Ohio
2011 1.2% decline inhome values in Ohio ofExcellent or aboverated schools
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What we cannot do!
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Questions?Questions?