MILLBURY — Lake Local Schools Treasurer Monica Leppelmeier presented her final five-year forecast — and it was filled with fairly good news.
Leppelmeier, who is leaving for the treasurer position at Eastwood Local Schools, said Lake’s finances are flush.
“Our revenue is actually up,” she said at the November board of education meeting. “We are seeing revenue from First Solar, we are seeing an increase for property tax revenue.”
Leppelmeier kept the state revenue funding the same, at 2019 levels, for the life of the five-year forecast.
“Interest is up substantially this year over last, which is great, and casino revenue — but those are not very good drivers of the forecast,” she said.
For revenues, $18.32 million is expected in fiscal year 2022 and $18.75 million in 2023.
For expenditures, the board has new contracts with the both the teachers and classified staff unions. That calls for 1.4% salary increases from fiscal years 2023-25 and 3% in fiscal year 2026.
“We have seen some increases in health insurance costs, and those are reflected in the forecast,” Leppelmeier said.
Expenditures are expected to be $19.97 million in fiscal year 2022.
The final cash analysis for the forecast is $5.2 million in fiscal year 2022, $3.8 million in 2023, $3.6 million in 2024, $2.2 million in 2025, $521,000 in 2026 and negative $1.9 million in 2027.
This was Leppelmeier’s last meeting. The board was expected to hire Cajon Keeton as interim treasurer at a special meeting on Thursday.
Leppelmeier, who is a Lake graduate, served on the Lake board of education for seven years before resigning to take the treasurer’s post in August 2020.
Also at the meeting, the board:
• Accepted donations of coats, hats and gloves for students valued at $350 from St. Paul’s Church; coats for students valued at $400 from Lisa Sedlak; four computer monitors and keyboard valued at $50 from Richard Finch Jr.; colored copy paper valued at $1,150 from the Weeks family; and a glider pack donation of $2,000 from the Raglow family.
• Approved Nov. 2 and 3 as calamity days.
• Went into executive session to discuss appointment, employment and compensation of personnel, negotiations and matters required to be kept confidential. No action was taken.