CASSTOWN – The Miami East Board of Education discussed and approved the five-year forecast for the treasurer’s report on Monday, Nov. 21.
The report includes the actual fund balances, revenues, and expenditures for the year 2020, 2021, and 2022. According to the report, at the end of the fiscal year in 2022 (June 30, 2022), the district had $9,942,155 in the unreserved fund balance. By the end of the fiscal year in 2027, the district is projected to have $7,556,581.
During the report, a deeper look at the financials were given. The report projected increases in staff wages and employee benefits for the next five years along with increases in income tax revenues. Then, they have transferred out money from the funds to “set aside for larger projects,” said Treasurer Alex Hix.
Then, the difference between expenditures and revenue was calculated for the forecast. According to the report, the expenditures will begin to overcome the revenues and by 2027 it’s projected to be a difference of $1,420,172.
“I believe that 75-80% of districts will be seeing (an expenditure that is greater than revenue),” said Hix.
Hix discussed the “true cash days ending balance” section of the report. According to Hix, the section represents “how many days could the district operate at year end if no additional revenues were received.” The actual for 2022 was 213 days. By 2027, that number drops to 148.
Then, the board heard the financial report for November where it was reported that the district had $16,049,668.92 in total balances.
The board approved five donations totaling $1,622.20 for various funds including the high school principal’s fund, girls’ soccer, and the class of 2025 student activity account.
The board approved the fall 2022 OHSAA soccer tournament expenditures, mileage reimbursement, staff members to provide extended learning, and additional substitutes.
They also approved three leaves of absences and the high school’s student council advisor’s letter of resignation.
Four staff members were approved for supplemental contracts.
The board also approved the indoor high school club track.
Superintendent Todd Rappold provided information on the Miami East FFA members who attended the national convention, which included 20 students. According to the agenda, “The Miami East – MVCTC FFA Chapter received a Three-Star National Chapter Award, the highest award bestowed to an FFA Chapter. The chapter was selected for this honor based on its activities during the previous school year, in the areas of growing leaders, building communities, and strengthening agriculture.”
Rappold commented, “We are honored. Our students continue to do phenomenal work.”
The Miami East high school hosted Veterans Day Breakfast on Nov. 11. According to Rappold, they had over 60 individuals attend. “Staff and students did a top-notch job. Thank you,” said Rappold.
The next board of education meeting is at 7 p.m. on Monday, Dec. 12.
