By Bob Strohm
bstrohm@wbcowqel.com
The Colonel Crawford Board of Education received Treasurer Vickey Stump’s five-year forecast for the school district, and like many area districts, the next five years depends on the state’s next biennium budget.
Stump began her forecast presentation by noting that she paid close attention to the expenditures to see if the district is spending more than its revenue line.
“The first two years we will not be spending more, but the years 2019, 2020, and 2021 we would be,” Stump explained.
Stump noted that while she was trying to be conservative with the expenditure line, school funding could go south fast depending on what new budget amounts come from the state.
In Stump’s report the district would be overspending $178,339 in 2019, $301,557 in 2020, and $565,477 in 2021. While the district would be overspending, it would still retain an ending balance in the positive going as low as $2,541,850 in 2021.
In property tax funds Stump pointed out that those funds are 22.6 percent of the district’s total revenue. Stump explained that she will have better knowledge on the forecast when the auditor submits the updated rates. Stump reported that as a result she made her estimates based on historical trends.
Stump reported that the district’s income tax, which represents 14.8 percent of the district’s funding, has been growing after a few years of upward and downward spikes. Stump added that with the current growing estimates she added 2 percent each year from 2018-2021.
One of the highest sources of revenue for the district comes from the State Foundation. The State Foundation, is currently 33.9 percent of the district’s funding. Stump added that the district’s state funding is capped. As a result she based her estimates on fiscal year 2015. Stump reported that the funds the district should be receiving are going to school districts with guarantees.
In Stump’s forecast she points out that the district is being unfunded in each year with the high point coming in 2017 with the district being unfunded $445,752 and the low point occurring in 2021 with the district being unfunded $60,010.
“We are considered a wealthy district, but we are stretching the taxes as far as they can go,” Stump reported. “If we would fully realize our revenue, the school should be OK in future years. We don’t want to have to go to voters for extra money to operate.”
Stump said that she went overly conservative with the numbers due to the amount of open enrollments within the school system. In Stumps other revenue line which include open enrollment that the district would be netting $976,842.34 due to funds from open enrollment.
“We should have more than what I have forecasted, because of open enrollment with more coming in this year,” Stump said.
In expenditures Stump noted that the largest amounts come from salaries at 49.5 percent, and benefits at 24.3 percent.
Stump noted that in purchase services she put money aside to maintain the bus fleet and the district’s infrastructure. She added that with the district now being a financially healthy time for the school she would like to add money into those expenses.
Stump closed her report noting that the district was doing better and shouldn’t have to go to levy.
When asked what attributed for the rise in spending, Stump explained that it is attributed to not having as much growth in revenue.
“I don’t want to say it is good for the years and have it wash out,” Stump reported. “It also gives me a feel when going into negotiations on what we can afford. I can’t promise the moon and have it go awash.”
After delivering her forecast, the Colonel Crawford Board of Education unanimously approved the five-year forecast as presented.