Five-Year Projections

Presentation by: Mr. Paul Pestello

Treasurer/CFOOctober 28, 2013

Availability of ForecastThe complete Five-year Projections

document and corresponding notes referenced in tonight’s presentation will be posted on the district’s web site. www.chardon.k12.oh.us

The Five-year Forecast is also available at the Ohio Department of Education web site http://education.ohio.gov

Consequences of Levy Failure Line 12.01 reflects an estimated negative ending

cash balance of almost $1 million (almost $1.3 million with outstanding encumbrances) at the end of fiscal year 2015.

Unless this November levy is successful, reductions of about $1.5 million will need to be made before the start of next school year.

The district can be on the ballot again in February 2014, May 2014, August 2014 and November 2014.

If successful, none of those levies will bring any new money into the district until January 2015.

Oct. 28, 2013 Chardon School Board Meeting

Cost Reduction Considerations Changes to school daily schedules to reduce transportation

costs, or further elimination of transportation services. Elimination of additional instructional and support

personnel. Elimination of extended-block scheduling for math and

language arts at CMS. Replacement costs for staff exiting on retirement incentive

program. Elimination/Restructuring of District-wide support

personnel Elimination of subscription-based instructional media

content. Reduction in supplies purchasing. Possible elimination of elementary art, music and physical

education programming. Reduction of Nutrition Services program.

Oct. 28, 2013 Chardon School Board Meeting

Program Restoration Considerations Advanced and elective programming at CHS to

ensure college and career readiness. Course offerings at CMS to increase instructional

time. Guidance and support services for students. Technology support for instruction and student

achievement. Elementary programming for instructional

support services, art/music/physical education, programming to support exceptional students (gifted education).

Pay-to-Participate at 2013 levels. Oct. 28, 2013 Chardon School Board Meeting