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Revenue and costs to remain stagnant

September 27, 2012

Superintendent Keith Horner

Wapakoneta City Schools expenditures and revenue are both anticipated to remain relatively flat for the next three years, the district’s superintendent reported during a monthly financial report this week.

Superintendent Keith Horner in presenting the information to the district’s Board of Education members showed actual operating expenditures for fiscal years 2010, 2011 and 2012 as compared to operating revenues during those same years. Then he compared them to estimated expenditures and revenues for 2013 through 2015.

While Horner estimated personnel salaries and wages would be relatively flat it is because staffing has been reduced to the point that he believes staff members are now being asked to do too much.

“We need to continue to monitor and watch it,” Horner said. “We have cut significantly in personnel.”

But, even with those cuts he discussed estimated health insurance increases of 9 percent during each of the next three years, for an overall 27 percent increase by 2015.

The district’s operating expenditures in 2010 totaled more than $17.7 million, followed by expenditures of $18.2 million in 2011, and $17.5 million this year.

The highest expenditure costs each of those years have been for personnel salaries and wages, which has dropped from $13.2 million in 2010 and $13.5 million in 2011 to $13.1 million in 2012, and health insurance for the certified staff costing $1.8 million in 2010 and 2011 and $1.7 million this year.

Other costs reflected in the district’s operating expenditures include, the State Teachers Retirement System (STRS) and School Employees Retirement System (SERS), as well as health insurance for classified staff.

Salaries and wages are expected to decrease to $12.3 million in 2013 and 2014 and decrease again to $12.5 million in 2015, according to information Horner presented to the board members.

Health insurance for certified staff is estimated at more than $1.7 million in 2013, $1.8 million in 2014 and $2 million in 2015.

As for operating revenues, Horner said he expects them to be flat, although a new proposed state funding system for education could have an impact.

At this point, school administrators still do not know how that impact may be felt or what the new system may look like. Casino money also is expected to start coming in at the beginning in January, but until it is received, it also is considered an unknown.

Total revenues for the district in 2010 were approximately $23 million, $23.7 million in 2011, and back to $23 million this year. Estimates for 2013 and 2014 are $22.5 million and $22.6 million in 2015.

Both tangible personal property tax and restricted federal grants are estimated at zero during the next three years, compared to tangible personal property tax amounts which were at $76,426 in 2010 and federal grants which were at $850,440 in 2010 and $1.7 million in 2011.

Accounting for the largest portion of revenues coming into the district are unrestricted state grants, estimated at $12.8 million during the next three years, an amount slightly higher than where it has been for the past three years. General property tax (real estate) from this year through 2015 is estimated at approximately $5.9 million, up from $5.7 million in 2010 and 2011.

Meanwhile, property tax allocations are expected to drop from $1.2 million, where they were in 2010 and 2011 to $868,700 this year and back to approximately $880,000 in 2014 and 2015.

Also reflected in the district’s operating revenues are income tax, which is expected to increase from $1.8 million from this year to $2 million in 2015;  restricted state grants, which are expected to provide the district with $105,424 this year and $100,000 each of the next three years. All other revenues are estimated to drop from $1.3 million this year to $825,000 each of the next three years; and all other financing sources are estimated at dropping from $220,621 this year to $80,000 each of the next three years.

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