Schools share in casino profits
Written by JORDAN CRAVENS Sentinel Staff Writer
Friday, 11 January 2013 10:13
While appreciative of any money being funneled back into districts, Wood County school treasurers said the first distribution of Ohio's casino tax revenue won't make a big difference to their bottom lines.
"We are appreciative of everything we get, but it's not going to be enough to add any programs," said Bowling Green City Schools Treasurer Rhonda Melchi. "It will make up for only a very small amount of funding loss we have experienced."
Bowling Green will receive $64,640 from the distribution. That accounts for approximately 0.5 percent of the district's $28.5 million general fund revenue.
The casino money also won't keep a tax levy off the ballot for Bowling Green schools. The district plans to place a property tax on the ballot that will generate about $4 million annually.
Districts statewide are dividing up nearly $38 million in casino tax revenue, which amounts to about $20.91 per student enrolled, according to figures from the Ohio Department of Taxation. Districts will receive payouts twice a year.
The Perrysburg school district is set to receive $100,029, which is equivalent to less than 0.5 percent of the district's $39.3 million general fund revenue, said Treasurer/CFO Matt Feasel.
Feasel said while the district knew the money would be coming in, they did not include it in the financial forecast or allocate the money.
"We have a lot of initiatives that are being considered in terms of instructional programming," Feasel said. "But it will be up to Tom (Hosler) and the administrators to determine how they want to use these funds."
"We will definitely take a look at where our needs are," he said.
Wood County was distributed $420,193 for its schools, although many schools receive funds from multiple counties.
Here is a look at what local schools will receive:
• Bowling Green, $64,640
• Eastwood, $32,916
• Elmwood, $25,478
• Fostoria, $38,377
• Lake, $35,431
• Lakota, $21,606
• North Baltimore, $15,002
• Northwood, $20,654
• Otsego, $32,771
• Penta, $80,353
• Perrysburg, $100,029
• Rossford, $38,930