$100,000 home - $211.40 increase
$150,000 home - $317.10 increase
$200,000 home - $422.80 increase
$250,000 home - $528.50 increase
WHAT DOES MARGARETTA PAY IN COMPARISON TO SURROUNDING SCHOOL DISTRICTS?
Above (click to enlarge): Margaretta has not had any additional tax initiative since 1998, whereby other surrounding school districts have had additional property tax levies approved over time.
Above (click to enlarge): Margaretta receives 50 percent of their revenue from the state, 6 percent from the federal government and 44 percent from local taxpayers. Compared to many surrounding districts, the most recent data show Margaretta had the least local revenue per pupil in the 2008 fiscal year.
WHY DO WE NEED THE ADDITIONAL MONEY?
• to maintain student achievement
• to avoid the loss of current academic & extra-curricular programs
• to avoid fiscal emergency and losing local control
Click to enlarge
TELL ME ABOUT THE IMPROVEMENTS TO THE ELEMENTARY SCHOOL.
• made to operate more efficiently
• operational savings of over $338,000 a year
• will pay for itself in 7 years
WHAT IS HAPPENING TO THE TOWNSEND BUILDING?
• leased to Northpoint Educational Service Center for 5 years
• provides educational services for special education students in Erie, Huron, Ottawa and Sandusky counties
• special education transportation cost reduced by keeping students in district
WHAT IS THE ACCOUNTABILITY OF THE DISTRICT FOR ITS SPENDING?
• accountability established by the Ohio Department of Education in both financial and academic standards
• annual audit by the Auditor of State
• annual audit by other entities including the Erie County Health Department, Ohio Bureau of Workers' Compensation, Ohio State Highway Patrol and Ohio High School Athletic Association (OHSAA)
WHAT COST SAVING INITIATIVES HAVE THE DISTRICT ALREADY IMPLEMENTED?
Total Reduction in Staff
• approximately 30 staff positions
Savings in Wages & Benefits
• Administrators & Supervisors have taken additional insurance concessions since May 2009 and pay freezes since the 2009-2010 school year.
• OAPSE has agreed to a pay freeze for 2008-2009
• MTA has agreed to a 2% pay cut for the 2009-2010 school year and made health care concessions in 2008-2009
Conservation of Energy/Transportation Costs
• implemented one-bus route reducing routes by 41,000 miles and saving 5,450 gallons diesel fuel
• replaced boilers and windows
Consolidation of Elementary Buildings
• downsized operations saving $338,000 annually
• found viable option for Townsend by leasing to the Erie-Huron-Ottawa Educational Service Center
HOW WILL THE REVENUE BE SPENT?
Revenue will be used to maintain excellence in education under the jurisdiction of the board of education.
WHEN WOULD WE REACH FISCAL EMERGENCY?
We could reach fiscal emergency as soon as FY11 (2010-2011 school year) or later dependent upon the approval of tax levies, state funding, budget cuts and wage/salary & benefit changes. We anticipate being in fiscal caution first as early as this fiscal year. The Auditor of State will determine this once the 5-year forecast is filed with the Ohio Department of Education.
WHAT IS THE PROCESS IF THE DISTRICT REACHES FISCAL EMERGENCY?
• Auditor of State determines that the District meets the statutory criteria for being in Fiscal Emergency
• Auditor of State performs a “performance audit” of the district
• The State of Ohio creates and impanels a Fiscal Emergency Oversight Committee
• The committee has five members appointed by the State
• The district will request to borrow money from the State to provide the necessary funds to have a balanced budget
• The State of Ohio will determine how much money the district will be able to borrow and will require the district to take due diligence in determining all alternatives to borrowing money
• The Oversight Committee will convene and review the Performance Audit and hear testimony from the School Administration on the financial state of the district, establish a corrective action plan, determine the best course of action to remove the district from Fiscal Emergency
• The Oversight Committee will review all contracts and liabilities of the district and will make recommendations to the Board of Education prior to the Board taking action on matters that may have a financial impact on the district
• The district’s Board of Education will continue to fulfill their statutory responsibilities
• The district will remain in Fiscal Emergency until the district can sustain itself with supplemental support of the State, including paying off any loans from the State with interest.
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