TREASURER'S UPDATE

Adam Koch
419-823-4381 x. 1

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BUDGET vs. ACTUAL COMPARISON
December 2011

FY2011 AUDIT REPORT

OCTOBER 2011 FIVE-YEAR FORECAST

OCTOBER 2011 ASSUMPTIONS FORECAST

A message from Adam Koch, District Treasurer

To the Otsego Local School Community:
 
I am excited to start my first full school year as the Treasurer of Otsego Local Schools.  As Treasurer, I serve as the Chief Financial Officer of the district and am responsible for the receipt, investment, accounting and disbursement of all types of public funds as required by law and in accordance with Board policies.  I report directly to the Board of Education and serve as the Secretary to the Board.

Financial Update September 2011:

July 2011 marked the start of a new State of Ohio Budget and will impact Otsego Local Schools significantly over the next two years.  It is estimated that we will receive $320,000 less in Fiscal Year 2012 than we did in Fiscal Year 2011 from the State of Ohio. Income tax collections have increased slightly over the past year which will help offset this loss. 

THANK YOU Otsego Community Members for your continued support of the students throughout our district.   We have decreased our expenses by roughly $1,400,000 since the 2008/2009 school year! The majority of our savings are attributable to our contract with the Wood County ESC. We have decreased our purchased services from them and hired a significant number of employees directly. We have been able to accomplish this significant decrease in expenses at the same time as raising the level of instruction to our students and earning an EXCELLENT rating from the State of Ohio. CONGRATULATIONS OTSEGO!!

Below you will find a three year history of our General Fund revenue and expenses.  In October the 5-year forecast will be presented to the Board of Education and will be posted on the web site. I will include monthly updates after the forecast is complete that compares our budget to actual figures.

Please feel free to contact me with any questions, comments, concerns, or suggestions you have concerning the financial condition of the Otsego Local School District.  I can be reached at 419-823-4381 or akoch@otsegoknights.org.

GO KNIGHTS!

Adam Koch, Treasurer

Questions? Comments?

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