1.1 FIVE YEAR FORECAST
Our Board of Education submitted a new Five Year Forecast
October 26, 2009.
| Total | Expenditure | Total | |||
| FY | Expenditures | Increase | Revenue | ||
| 2007 | $69.7 million | ||||
| 2008 | $71.5 million | $1.8 million | |||
| 2009 | $71.8 million | $0.3 million | |||
| 2010 | $76.3 million | $4.5 million | $77 million | ||
| 2011 | $77.4 million | $1.1 million | $75,milliom | ||
| 2012 | $79.3 million | $1.9 million | $76 million | ||
| 2013 | $80.5 million | $1.2 million | $77 million | ||
| 2014 | $82.5 million | $1.9 million | $70 million | ||
| Actual fy2007-2009 | |||||
| Forecast fy2010-2014 | |||||
| Note 2010 total exp. $76,103,600 tax budget 1/6/10 | |||||
Hilites: An already exorbitant spending level increases further, while total revenue declines. By FY2014, annual spending will reach $82.5 million. In just five short years the annual spending level will have risen another $10.7 million annually. This current year spending increases $4.5 million. No wonder they want to put another operating levy on the 2012 ballot.
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Notice how the annual revenue drops by $7 million in FY14. This is the first phase of the district losing $12 million business tangible personal property tax revenue. If the board has it’s way, residents and businesses will pay even higher property taxes ($12 million annually) to make up for the loss of business tangible personal property tax revenue.
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Our elected board members (Richter, Adamec, Stauback, Cole, Overman) refuse to consider adequate cuts in spending. The board officially responded to this lost revenue by saying, “Our capped budget approach has been discussed in many of our Board Meetings held in public. As much as we would like, we have no control over Ohio State Legislators who have eliminated (phased out from 2011 – 2018 the Tangible Personal Property Tax for all school districts). Thus, our forecast reflects this phase out and is incorporated in our planned revenue base. We think our capped budget and under-spends for the past several years has cushioned this impact as best we can for property owners including residents and businesses.”
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The administration tells us, “Salaries and wages (Note: salaries/wages and benefits account for 85% of total expendtiures) reflect the impact of the collective bargaining agreement with OAPSE through FY2010 and the collective bargaining agreement with SEA through FY2011. Any costs associated with these or future settlements of these collective bargaining agreements will be included in the expenditure trend parameters (2.5% annual increase) set by the Board.”
