Boe presentation 02 19-13

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Boe presentation 02 19-13

  1. 1. Fostoria Board of Education February 19, 2013
  2. 2. ACHIEVEMENT EVERYWHERE Preliminary EstimatesGovernor Kasich’s funding is just a PROPOSALProposed for FY14 and FY15 only – just two yearsLong way to go before possible approval – end of June 2013.State Senators – Hite & Gardner Est. Student District FY 2013 Count Total FY 2014 $ Increase % Increase FCS $9,508,180 2085 $11,080,453 $1,572,273 16.54% FCS FY 2014 Total FY 2015 $ Increase % Increase $11,080,453 2085 $11,562,523 $482,069 4.35%
  3. 3. Based on the Fostoria Five Year Forecast Actual Forecasted Line 2010 2011 2012 2013 2014 2015 2016 20171.070 Total Revenue 19,742,809 20,115,661 21,172,015 20,284,225 19,568,000 18,490,900 18,490,900 17,813,5004.500 Total Expenditures 23,366,050 22,539,037 22,208,625 21,795,840 21,899,613 22,272,613 22,495,613 22,763,000 IF THE LEVY DOES NOT PASS10.010 Fund Balance June 30 for Certification 5,239,117 2,890,091 2,004,616 1,630,637 -700,976 -4,482,689 -8,487,402 -of Appropriations 13,436,902 IF THE LEVY DOES PASS12.010 Fund Bal June 30 for Cert of Contracts, 5,239,117 2,890,091 2,004,616 1,630,637 21,724 -1,959,989 -4,164,702 -6,636,740Salary Sched, Other Obligations15.010 Unreserved Fund Balance June 30 5,239,117 2,890,091 2,004,616 1,630,637 21,724 -1,959,989 -4,164,702 -6,636,740
  4. 4. District Fiscal Responsibility Requires: Budget reductions of $600,000 - $700,00 must be made regardless of levy renewal outcome. Passage of the Substitute Levy May 2013 With the levy passage, at the end of FY14 , the general fund balance equals $21,724.
  5. 5. School Funding by District
  6. 6. Definition of Substitute Levy: Substitute Levy – this replaces our emergency levy for the same 1.8 million dollars. This is not new money. In June of 2008 – Governor Strickland signed Amended Substitute House Bill 562 that included new tax levy options for school districts considering emergency levies or the renewal of emergency levies. The Substitute levy is one of the options created in 2008. A “Substitute Levy” may be submitted to its voters for up to 10 years or for a continuing period of time. This new substitute levy must be proposed at an initial specified dollar amount for the first collection year equal to the amount of the proposing district’s existing emergency levy. Thereafter, revenues from the substitute levy may experience limited annual growth based solely on new real property improvements made in the school district each year. This new levy option permits a school district to reduce the number of tax levy elections and avoid voter fatigue by extending the levy term and/or providing for limited revenue growth from new real property improvements.
  7. 7. Assessed Value = Taxable ValueExample - property has true value/market value of $50,000.The assessed value is 35% of $50,000.BASED ON 7.55 MILLS WHEN LEVY FIRSTINTRODUCED: BASED ON CURRENT 8.55 MILLS:TOTAL MILLAGE 7.55 TOTAL MILLAGE 8.55COST TO AVERAGE HOMEOWNER COST TO AVERAGE HOMEOWNER $50,000 $50,000 Annual Cost $115.61 Annual Cost $130.92 Monthly Cost $9.63 Monthly Cost $10.91 Weekly Cost $2.22 Weekly Cost $2.52 Daily Cost $0.32 Daily Cost $0.36
  8. 8. Assessed Value = Taxable ValueExample - property has true value/market value of $50,000.The assessed value is 35% of $50,000. Fostoria CSD Substitute Levy Renewal Millage Estimates BALLOT MILLAGE CALCULATION COST TO HOMEOWNER ASSUMPTIONS BY PROPERTY VALUE APPRAISED TAX VALUE VALUE 35% ANNUAL MONTHLY WEEKLY DAILY SUBSTITUTE LEVY MILLAGE 8.15 $30,000 $10,500 $74.88 $6.24 $1.44 $0.21 $40,000 $14,000 $99.84 $8.32 $1.92 $0.27 $50,000 $17,500 $124.80 $10.40 $2.40 $0.34 $60,000 $21,000 $149.76 $12.48 $2.88 $0.41 COST TO AVERAGE HOMEOWNER $70,000 $24,500 $174.72 $14.56 $3.36 $0.48 Census Median Home Value $50,000 $80,000 $28,000 $199.68 $16.64 $3.84 $0.55 $90,000 $31,500 $224.63 $18.72 $4.32 $0.62 Annual Cost $124.80 $100,000 $35,000 $249.59 $20.80 $4.80 $0.68 Monthly Cost $10.40 $110,000 $38,500 $274.55 $22.88 $5.28 $0.75 Weekly Cost $2.40 $120,000 $42,000 $299.51 $24.96 $5.76 $0.82 Daily Cost $0.34 $130,000 $45,500 $324.47 $27.04 $6.24 $0.89
  9. 9. What do the levy funds pay for?• STAFFING• CLASSES THAT CAN BE OFFEREDo During the day interventions:o JSHS programs – OGT Interventiono Project MORE – (3rd Grade Reading Guarantee)o STEM (Science/Technology /Engineering/Math
  10. 10. What do the levy funds pay for?• Online Testing Requirements  All students must test online  As quickly as technology changes, we must increase the number of devices as well as operating systems• Resources & Materials  Textbooks - - hard copy/digital  Training for student growth measures  State Mandated – Tied to professional evaluations  Library materials  Lab materials  General everyday operating supplies  New Content Standards
  11. 11. Looking ahead……….To address the concern of being a continuing levy and having a voice/choicein our funding and your tax dollars. We have another emergency levy that willneed to be voted upon in a couple of years. This will give us all a chance tosee where we are at with the new 2 year funding proposal, healthcare costs,and how much more efficient we run our schools under new leadership.Without the levy passing, we will have to look at far more cuts due to ourcurrent financial position and the inability to predict how much money willactually come from Governor Kasich’s proposal for school funding.

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