July 23, 2014 at 2:10 p.m.
Cash flow a concern (01/13/2009)
Jay School Board
By By JACK RONALD-
A drop in interest earnings and rise in the number of people unable to pay their property taxes combined to create a cash flow deficit for the Jay School Corporation in 2008.
The school corporation had a year-ending cash balance of $2.9 million, but that's down $291,188 from the end of 2007 because revenues fell short of expenses, business manager Brad DeRome told the Jay School Board Monday.
Interest earnings dropped to $146,150 in 2008, compared to $381,057 in 2007, DeRome said. "We didn't expect it to fall that far off the table," he said. "No one saw that coming."
Board members Jay Halstead and Mike Masters expressed concern about the cash flow deficit, which broke a five-year string in which the school corporation was able to finish the year with an increase in its cash balance.
"We're prepared to be a little bit more difficult, a little more stringent on the budget," said Masters.
"We didn't over-spend our budget," board president Bryan Alexander responded, noting that the corporation doesn't know its total revenue picture until the year's end. "We'd all like to see it in the black every year."
Superintendent Tim Long said the cash flow deficit was a result of unforeseen factors in the national economy. "This year, our projections were off," he said. "I feel like we've got a plan (for the year ahead). We're going to reduce costs where we need to."
Board members noted that the shift of the general fund from property taxes to state taxes brings a new degree of uncertainty about school spending.
"The governor's proposed two years of flat-lining education," said Alexander. "We will potentially have to make some tough decisions."
Alexander was re-elected president of the board. Also re-elected were Halstead as board secretary and Greg Wellman as vice president.
Long reported to the board that he expects the corporation to take possession of the new auxiliary gym/multi-purpose facility at Jay County High School by the end of next week.
On the recommendation of Long and assistant superintendent Wood Barwick, board members unanimously adopted four new goals for Jay Schools:
•Raising ISTEP scores by two percent.
•Increasing the number of students passing the graduation qualifying exam by one percent in language arts and two percent in math.
•Increasing the number of students passing the special education ISTEP by three percent in grade four and six percent in grade seven.
•Increasing the number of students who qualify for free and reduced lunches and pass the ISTEP by two percent in grade three, three percent in grade six language arts, and one percent in grade eight.
"I think we've finished 59 of the original list" of goals, Barwick said.
Long indicated he'll return to the board with an additional goal of achieving a 100 percent graduation rate at JCHS. "There's no reason we can't do better than we're doing," he said. "We're going to bring that goal back to you."
In other business, the board:
•Agreed to accept donations for Foster Gardens Greenhouse at Westlawn Elementary School. About $12,000 has been contributed so far. "A lot of service organizations in the west side of the county have gotten involved," said board member Mike Shannon.
•Hired Jeffery Erb as a vocational business teacher at JCHS.
•Approved extracurricular assignments for Kelly Bricker as girls' track coach at West Jay Middle School, Kyle Kerrigan as assistant wrestling coach at West Jay, and Matthew Claycomb as sixth grade boys' basketball coach at West Jay.
•Noted that retired teacher Bob Lyons will be honored by the Purdue Ag Alumni Association in February with a Certificate of Distinction.
•Learned that a school principal from China will be visiting Jay County in early March as part of an exchange that will send Long to China later in the year.
•Appointed Phil Frantz as school board attorney.
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The school corporation had a year-ending cash balance of $2.9 million, but that's down $291,188 from the end of 2007 because revenues fell short of expenses, business manager Brad DeRome told the Jay School Board Monday.
Interest earnings dropped to $146,150 in 2008, compared to $381,057 in 2007, DeRome said. "We didn't expect it to fall that far off the table," he said. "No one saw that coming."
Board members Jay Halstead and Mike Masters expressed concern about the cash flow deficit, which broke a five-year string in which the school corporation was able to finish the year with an increase in its cash balance.
"We're prepared to be a little bit more difficult, a little more stringent on the budget," said Masters.
"We didn't over-spend our budget," board president Bryan Alexander responded, noting that the corporation doesn't know its total revenue picture until the year's end. "We'd all like to see it in the black every year."
Superintendent Tim Long said the cash flow deficit was a result of unforeseen factors in the national economy. "This year, our projections were off," he said. "I feel like we've got a plan (for the year ahead). We're going to reduce costs where we need to."
Board members noted that the shift of the general fund from property taxes to state taxes brings a new degree of uncertainty about school spending.
"The governor's proposed two years of flat-lining education," said Alexander. "We will potentially have to make some tough decisions."
Alexander was re-elected president of the board. Also re-elected were Halstead as board secretary and Greg Wellman as vice president.
Long reported to the board that he expects the corporation to take possession of the new auxiliary gym/multi-purpose facility at Jay County High School by the end of next week.
On the recommendation of Long and assistant superintendent Wood Barwick, board members unanimously adopted four new goals for Jay Schools:
•Raising ISTEP scores by two percent.
•Increasing the number of students passing the graduation qualifying exam by one percent in language arts and two percent in math.
•Increasing the number of students passing the special education ISTEP by three percent in grade four and six percent in grade seven.
•Increasing the number of students who qualify for free and reduced lunches and pass the ISTEP by two percent in grade three, three percent in grade six language arts, and one percent in grade eight.
"I think we've finished 59 of the original list" of goals, Barwick said.
Long indicated he'll return to the board with an additional goal of achieving a 100 percent graduation rate at JCHS. "There's no reason we can't do better than we're doing," he said. "We're going to bring that goal back to you."
In other business, the board:
•Agreed to accept donations for Foster Gardens Greenhouse at Westlawn Elementary School. About $12,000 has been contributed so far. "A lot of service organizations in the west side of the county have gotten involved," said board member Mike Shannon.
•Hired Jeffery Erb as a vocational business teacher at JCHS.
•Approved extracurricular assignments for Kelly Bricker as girls' track coach at West Jay Middle School, Kyle Kerrigan as assistant wrestling coach at West Jay, and Matthew Claycomb as sixth grade boys' basketball coach at West Jay.
•Noted that retired teacher Bob Lyons will be honored by the Purdue Ag Alumni Association in February with a Certificate of Distinction.
•Learned that a school principal from China will be visiting Jay County in early March as part of an exchange that will send Long to China later in the year.
•Appointed Phil Frantz as school board attorney.
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