Penta's expenses more than revenue
Written by MARIE THOMAS BAIRD Sentinel Education Editor
Saturday, 14 September 2013 08:37
PERRYSBURG - Penta Career Center will spend just slightly over its expected revenue for this fiscal year, based on numbers presented at the center's board meeting Wednesday.
According to center Treasurer Carrie Herringshaw, Penta has appropriated $27,138,977 in expenses for this year, while expecting only $26,130,618 in revenue.
The center will draw from its carryover fund, expected to be $5.5 million at the end of this year, to cover the difference.
"We're in good shape" this year, she said.
Herringshaw will give her five-year financial forecast at the October board meeting.
Judith Sander, chair of the board's finance committee, reported that despite giving certificated and classified staff 2.5-percent raises this year, that number will equal only about 2.1-percent in cost increases due to the number of retirements and new hires.
The cost of health care for employees also will drop 7 percent, she stated.
Herringshaw reported that real estate tax receipts will go down by $258,111 to $9,814,663; state foundation support will increase by 6.25 percent, to $14,041,081.
The decrease in property tax revenue is due to the reappraisals in 2012 in Lucas and Ottawa counties, she said.
While health insurance premium costs increased by 7 percent, effective July 1, the employee share increased by 2.5 percent while overall health insurance premiums paid by employees decreased due to higher deductibles.
"Because of the increase in employee share as well as the cost reduction due to the change in co-pays and deductibles, the overall effective chance in insurance cost is -7 percent," Herringshaw reported.
This year's estimated cost for insurance is $2,644,745.
Also at the meeting, Dave Deskins, director of human resources, introduced a number of new staff hired this school year.
Penta has added 27 new people to its payroll.
Jeff Kurtz, school director, reported that administrators unveiled Monday the plan and model for newly-required teacher evaluations.
He said the move was "to help put minds at ease" over the changes.
The plan was developed by six administrative representatives and six teacher representatives.
He also reported that a new Student Success classroom period was implemented Monday and was to be offered again Thursday.
The class is to offer extra support to students, including enrichment and leadership opportunities.
The new program has been well received by staff, Kurtz said.
"Our students, overall, I think accepted it positively," he added.
The class is not a glorified study hall, Kurtz stated, and he hopes to have metrics in place to gauge how the classes are helping those students enrolled.