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CFO/Treasurer's Office Staff

The CFO/Treasurer’s Office handles a great deal of the day-to-day financial functions of the District including payroll, insurance, purchasing, state and federal reporting, forecasting, revenues, expenditures, and investing. In addition, one of the most important functions of the CFO/Treasurer’s Office is to allocate adequate funding to all areas so that Pike-Delta-York Local School District can offer children the best education possible.

Eric Soltis replaced Joyce Kinsman as CFO/Treasurer, filling the position back in March of 2012.  Janet Demaline, Assistant Treasurer/Payroll, and Jan Falor, Accounts Payable, have been long-time employees of the District, serving in different positions throughout their public service to the Pike-Delta-York Local School District.

Feel free to browse around this section at your convenience and view additional relevant financial information related to the district.  For Board Minutes, access the left-hand side of the Board of Education page.  Should you have questions or would like more information, feel free to reach out by referring to the respective contact via the information below.

  Eric Soltis, MBA                       Address:

   CFO / Treasurer                                         Treasurer's Office

   E:  ESoltis@pdys.org                                  504 Fernwood Street

   P:  419.822.3391 (ext. 5103)                   Delta, OH  43515

   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)

 

 

 

Five Year Forecast

In order to gain a better understanding of the financial condition of the District's General Fund (or general operating funds), one ought to review the District's most recent Five Year Forecast.  Not only is the Five Year Forecast a tool that provides a lot of useful financial information, is also serves as a guide in the District's decision-making process.  The structure of the Five Year Forecast includes a history of revenues and expenditures from the prior three fiscal years, as well as a projection for the current fiscal year and the following four fiscal years.  (Note that a fiscal year is from July 1st to June 30th.)

When viewing the Five Year Forecast, it is important to know that the information presented is based upon a "snapshot" in time, given the information known at that specific time.  As time goes by, additional information becomes available and essentially renders the Five Year Forecast as outdated.  Furthermore, the Five Year Forecast can be considered a good planning tool that changes periodically once new or updated information is known.

Given the fact that the "snapshot" of financial information often changes, it is crucial for viewers to read what is included in the assumptions.  The assumptions of the Five Year Forecast provide meaning and reflect the rationale behind the numbers.  These should be considered prior to drawing conclusions or using the data as a basis of other calculations.

The Five Year Forecast is updated each October and May, as required by the Ohio Department of Education (ODE).  To read some of ODE's insight regarding a typical Five Year Forecast, "How to Read a Five Year Forecast" is a valuable resource that offers tips and explanations on how to best understand such a document.

If, for any reason, the link above does not populate the Five Year Forecast or if other technical difficulties occur, another alternative would be to click here* and do the following:

  • Click on the link "Find Forecast by District Name"
  • Type in "Pike-Delta-York"
  • Click the "Generate Forecast" button
  • Read the provided note and click the "Generate Forecast" button again

Please be sure to view the written assumptions that follow the Five Year Forecast, as these assumptions are pertinent to the full understanding of what is included in the forecast.


*This external site was developed as part of a joint project between the Ohio Department of Education's (ODE) Center for School Finance and Accountability, the Ohio Association of School Business Officials (OASBO), and the State Software Development Team (SSDT).

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.

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