Treasurer shares 5-year forecast with board


By Sandy Rose Schwieterman - For the Sidney Daily News



NEW BREMEN – Mounting costs over the next five years will begin to eat into the New Bremen school district surplus as soon as 2022, according to district treasurer Jill Ahlers. In presenting her five-year forecast to the Board of Education at their Nov. 17 meeting, she said it is unknown as this point how much the new state funding formula will benefit the school district’s bottom line.

Ahlers reported that coming into fiscal year 2022 the district’ s beginningbalance will be $5,669,439 with additional revenue expected to be $9,841,151, and expenditures of $9,650,559, leaving the district with a year end balance of $5,860,031

However, in fiscal year 2023 revenue is projected to be $9,428,376, while expenditures would amount to $9,929,510, so the deficit of $501,134 will reduce of the school’s year-end balance to $5,358,897.

The imbalance between income and costs would continue so that by fiscal year 2026, the school’s beginning balance would be reduced to $3,802,122. Revenues were projected to be $9,779,484, expenditures $10,979,789, leaving a deficit of $1,200,305 and a year-end balance $2,601,817

Ahlers said the new state funding formula may help ease the budget crunch, with positives already appearing. It was anticipated that the projected fiscal year 2022 would have an increase of $381,498 in funding from 2021 (from $3,484,683 to $3,868,181). Other benefits from the new funding formula has the State no longer charging the district for expenses such as open enrollment ($66,483), community school ($37,733), Autuism scholarships ($23,220), and Peterson scholarship ($8,622) for a total reduction of $136,058 in district yearly expenses.

Ahlers said the complete impact of how the new formula would produce projected revenue is expected in December or January.

The board approved a resolution expanding employment of substitute teachers. Superintendent Jason Schrader explained that in order to expand employment of substitute teachers, individuals holding a high school diploma and a clean background check can contact the Auglaize County ESC to apply.

The board approved the TriStar Advisory Board equipment list for the Welding Program. The funding will come from donated monies from local companies that is held at the Mercer County Civic Foundation. These purchases will allow for additional welding processes to be taught.

In other action, the board approved a transfer of $338,000 of interest earnings to the district’s general facilities fund from the district’s share of the construction fund for the new elementary building

By Sandy Rose Schwieterman

For the Sidney Daily News

The writer is a regular contributor to the Sidney Daily News.

The writer is a regular contributor to the Sidney Daily News.