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​​​A Message From

The Finance Office

Of

The Pike Delta York Local School District

   It is truly a pleasure to be the CFO/Treasurer of the Pike-Delta-York Local Schools – an extremely well-respected school district in the State of Ohio. It has become increasingly evident that this community supports education and strong family values. It is truly a pleasure to work with the community, staff and students at P-D-Y. Being raised in a small community in southern Wood County, I know and understand the importance of relationships, communication and the commitment it takes for a community to assist in raising and educating their children.

   In tough economic times, the temptation of allowing financial resources to dictate the direction of a district’s educational programs becomes more difficult. It is the primary focus of the Board, Superintendent and myself as CFO/Treasurer that we commit to working together to be excellent stewards of the taxpayer’s dollars. At the same time, too, we want to ensure that the children who come here each and every day along with those that graduate from Pike-Delta-York Local Schools are prepared to meet the challenges in today’s society.

   The CFO/Treasurer’s Office is responsible for a majority of the day-to-day financial functions of the district including payroll, insurance, purchasing, payables and receivables, state and federal reporting for grants, forecasting revenues and expenditures, investing and most importantly, safe-guarding taxpayer dollars. In addition, one of the most important functions of the Treasurer’s Office is to work with the Superintendent and Board of Education in allocating adequate funding to all areas of the district operations so that the Pike Delta York School District meets the needs of each and every child that walks through our doors. Despite the challenges we face with educational funding, I truly believe in the education of our children for their future, as well as the future of our community.

Go Panthers,

Matt A. Feasel

CFO/Treasurer

  Matt Feasel

   CFO / Treasurer

   E: MFeasel@pdys.org

   P:  419.822.3391 (ext. 5103) 

   F:  419.822.4478

 

 

 

Janet Demaline

   Assistant Treasurer / Payroll

   E:  JDemaline@pdys.org

   P:  419.822.3391 (ext. 5105)

 

 

 

  Jan Falor

   Accounts Payable

   E:  JFalor@pdys.org

   P:  419.822.3391 (ext. 5104)

 

 

 

Annual Reports

Annual Appropriations / Budgets

2017-18 Fiscal Year Appropriations

Initial 2017-18 Appropriations

2016-17 Fiscal Year Appropriations

Final 2016-17 Appropriations

Inital Appropriations

 

The Five Year Forecast

Of the

The Pike Delta York Local School District

October 2017 Forecast (Summary Version)

October 2017 Forecast (Detailed/State Version)

May 2017 Forecast

October 2016 Forecast

The Treasurer’s role has changed significantly since I came to this profession thirty-three years ago. The days of just paying the bills is long gone. Don’t get me wrong, that is still a major responsibility, but the office is responsible for so much more than that. The position has become one of an advisor to our board of education and management team, a manager of the funds that we are responsible for and a support mechanism for our entire staff. We value that role. We work with the district administration to make sure that the teacher in that classroom has the necessary tools to provide the quality of instruction that they expect. We work with the administration to make sure there are buses and gas in those buses to pick up your child and deliver them safely to school, that our food service staff have the tools and resources necessary to provide you child with a nutritious meal and that our custodians and maintenance staff have the proper tools and supplies to provide a safe and clean environment for your child to come to everyday. It takes a total team effort

of the first steps in that entire process is the management of funds. Adequate planning and responsible management of those dollars plays a vital role within that entire process. That process begins with planning. Knowing what our resources are and matching those up with the needs of our instructional program. We do that by preparing a financial forecast and utilizing that as our financial map in preparing for the future. It’s the district’s financial plan.

As I’ve worked through the finances, it has become obvious that this community supports and values this school district. Not only from a financial standpoint but from a perspective that instruction and family values go hand in hand and are extremely important. Classroom instruction is a high priority for this administration and Board of Education and that is evident.

The Administration, Staff and Board of Education at Pike Delta York continue their commitment to strive toward a positive and safe learning environment for our students. The use of grants and funding from various sources to help offset the cost of some of these activities and bringing the community together to support these endeavors.

All that we do today is in preparation for tomorrow. It is so important that we continue to think “outside the box” so that our students are prepared to meet the challenges of society. How does all of that “fit in” from a financial perspective? How we merge these two areas is one of the most challenging responsibilities that we face today.

We are prepared to accept that challenge and we look forward to continuing our work together to achieve those goals.

History

August 2008 - OSFC Bond Levy

The voters successfully approved a $10 million Bond Levy (4.3 mills on real estate property) and a 0.5 mill Maintenance Levy so the District could participate in the Ohio School Facilities Commission (OSFC) Project.  By the District providing $10 million, the State of Ohio provided $15.5 million to completely update the building facilities within the District.  With this OSFC Project, the District was able to construct a brand new PK-4 Elementary Building, completely renovate the 1970's High School Building, and update technology and security in the 1998 Middle School Building.

November 8, 2011 - Emergency Levy Passed

The voters of the District approved a 5.99 mill Emergency Levy for three years.  This 5.99 mill Emergency Levy generates $909,937 per year for the District, and is critical to the daily operations of the District.  The daily cost for the owner of a $100,000 residence is $0.50 per day.  However, despite this additional funding, the District was still facing over $800,000 of deficit spending (spending over $800,000 more than revenues) at the end of FY12, and ultimately was forced to RIF two Certified staff and four Classified staff, as well as not replace two retired employees.

March 2013 - Maintaining Lean Operations

Since then, the District has operated very lean.  In fact, in March of 2013, the CFO/Treasurer and Superintendent brought in an ODE Financial Expert, Robert Miller, to present his Staffing and Financial Analyses to the Board of Education.  Mr. Miller noted that it is a common benchmark for districts to spend 80% of their total budget on staff salaries and benefits.  Anything amount less than the 80% benchmark is considered "leaner than the average."  Upon his findings, the following was determined:

Financial Analysis

  1. The District was below this benchmark of 80%; rather, had a combination of staff salaries and benefits of 77.10% for FY12.  If this figure were to be determined for FY13, it would be 72.92%, which is significantly less than the suggested benchmark.
  2. It was recommended to have approximately one month's worth of cash available on hand at any given time, but would prefer to see that figure closer to three months.

Staffing Analysis

  1. The District employed approximately 1.77 less FTE (Full-Time Equivalency) Regular Classroom Teachers than comparable districts and 2.00 less FTE Educational Service Personnel.
  2. In addition, of the eleven categories related to Other District Personnel (such as Clerical, Food Service, Bus Drivers, Custodians, etc.), seven categories had less FTE than comparable districts.

May 2013 - A Dismal Picture

The state of Ohio requires all districts to maintain a Five Year Forecast, which projects cash balances over this horizon. The May Five Year Forecast indicated a negative ending cash balance of $180,639 for the 2013-14 school year. At that time, a new levy of 10 mills in November 2013 would have been needed to maintain current levels of quality and service.

July 2013 - Fiscal Responsibility

The district continued to focus on reducing spending, saving nearly $435,000 in 2012-13. To varying degrees in recent years, combining and restructuring positions, freezing wages, reducing salaries, and improving efficiency have all led to savings. Revenues for 2012-13 were greater than anticipated and the passage of HB 59 projected much needed state aid of nearly $880,000 for the district in 2013-14 and 2014-15.

October 2013 - A Brighter Outlook

Given the fiscal responsibility indicated above, the district’s negative position was pushed out two years, from 2013-14 to 2015-16, allowing the Board the opportunity to push back the levy from November 2013 to May 2014.

May 2014 - Major Goals Accomplished

The district continued to positively move forward, as the voters of the district provided approval on the May 6, 2014 levy issue.  This levy was a renewal with an increase and was extended to five years in length.  In addition, during the May Regular Board Meeting, the Board of Education voted to approve the Ohio Schools Facilities Commission (OSFC) Certificate of Project Completion.  The OSFC Project, which started after the original Board approval back in September of 2008, officially comes to a close and frees up much-needed funds for the district's Permanent Improvement Fund.

May 2015 - Bond Rating Upgrade and Bond Refinancing Saves Nearly $2M

On May 7, 2015, the Superintendent and Treasurer presented to financial analysts at Moody's Investor Services in New York City in an effort to upgrade the District's "A1 (negative outlook)" bond rating.  The bond rating presentation was ultimately a success, as Moody's dropped the "negative outlook" due to "satisfactory and strengthening General Fund reserves," "tax base growth and favorable pro-forma financial projections,” as well as the effectiveness of PDY's management.  The press release for this news update can be found here.

On May 21, 2015, the District concluded their efforts by issuing $10,950,000 of Refunding Bonds to refinance the previous bonds.  A combination of low interest rates, upgraded bond rating, and perfect market timing not only allowed the District to save a significant amount of interest, it also allowed the district to shorten the term of the bond issue by 3 years.  The total savings will reach $1,803,364 over the remaining life of the bonds.  The press release for this news update can be found here.

July 2015 - Another Successful Year

At the close of FY15, the General Fund's ending cash balance was just over $2.5 million, which demonstrates significant progress from the past.  This fiscal responsibility has led the district's cash position to a level that is more than triple than that of just two short years ago.  In addition, a new state-of-the-art Bus Garage facility was completed at the end of April, and a new Field House is currently being constructed by the PDYLSD Foundation at the north end of Panther Stadium.  These projects are great additions to the outstanding facilities that the school district currently possesses.

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