Lake budget forecast is quite foggy


MILLBURY – Like most school districts in Ohio, Lake is getting hit financially from every angle.
There’s a loss in property taxes. State revenue is unpredictable. Interest on investments is
And based on those erratic numbers, Treasurer Jeff Carpenter had to submit a five-year forecast.
At Wednesday’s meeting, board member Eric Hirzel called the forecast a "shot in the dark."
Carpenter said it was more like a "train wreck."
"The state budget is kind of built on a house of cards," Carpenter said, noting it includes
video slots that aren’t happening and casino revenue that is up for a vote Nov. 3. "No one feels
that it is sustainable."
The forecast estimates that Lake will have actual income this Fiscal Year of $13.7 million and
expenditures of $13.1 million. For FY 2010, revenues are $13.5 million and expenditures are $13.8
million. Expenditures are also expected to be higher in FY 2011 at $14.2 million, with revenue at $13
million. Revenue does a dramatic drop in FY 2012 at $11.9 million, with expenses at $14.7 million.
Lake has a positive cash balance until FY 2012 when it is negative $2 million.
Carpenter said this Fiscal Year, general fund property tax receipts are down $160,000 from 2008.
Lake received $4.2 million in state foundation payments in 2009, which is the same amount received in
2002. The district is scheduled to receive $3.9 million in 2010 and $3.8 million the next year.
Investment earnings were $230,000 in 2008 and have dropped to $132,000 in 2009 due to falling interest
Carpenter said it has been Gov. Ted Strickland’s goal to have school funding be 60 percent from the state
and 40 percent local. By 2014, if things stay as they are, Lake’s funding will be 22 percent from the
state and 78 percent local.
"That’s a very scary thought," he said.
Board President Tim Krugh said the board will address finances in a workshop. It will be held after the
Nov. 3 election.
Looming over the board are two levy renewals and contract negotiations.
The five-year forecast assumes 2 percent raises for staff in years 2011 through 2014.
Also at the meeting, the board:
¥ Voted to use $77,631 in stimulus money to purchase a handicapped school bus from Bluebird. The money is
from the Title VI-B American Reinvestment and Recovery Federal Stimulus Funds. The bus is replacing a
15-year-old one that has 300,000 miles on it.
¥ Honored high school student Kylie Walters who received the Principal’s Award in the Focus Art Show at
Bowling Green State University.
¥ Accepted donations from Connie Pindoley, VHS tapes and books valued at $55; First American Cash
Advance, cash totaling $117; Kathleen Slovak, children’s videos valued at $125; Lesley Briggs, school
supplies valued at $17; Andrew Marcinek, pearl bell kit valued at $125.
¥ Heard Lake students continue to support veterans, by raising $4,400 for Honor Flight, which flies World
War II veterans to the Washington, D.C., memorial at no charge, and by holding a Veterans Day breakfast
at Walbridge Elementary and an assembly at Lake Elementary. Any veteran is welcome to attend.
¥ Heard the annual Walbridge Elementary Halloween parade will be Oct. 30 at 1:15 p.m.
¥ Heard Calvary Lutheran Church, Northwood, donated 50 sets of hats and mittens for Lake Elementary
¥ Heard the technology committee had its first meeting. Technology and grant coordinator Donna Zalar said
the committee is looking at budget and planning issues.
¥ Went into executive session to discuss negotiations and employment. No action was taken.

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