Treasurer

Welcome to the 2011-12 school year!   As you scroll through the Treasurer's webpage, I hope you learn something new about the financial operation of the Crestview Local School District!

New - District Considers Options to Pay Down Debt
     The Board of Education is looking to pay down some of the debt from a bond issue voters approved in 2001 to build a new elementary school and renovate other buildings. 
     Why?
     The district is currently earning less than 1% on investments while paying up to 5.2% interest on its debt.  Paying off some of the debt will save taxpayers money over the next 18 years.
     PHASE 1 of the process took place in November 2011 with the Board paying off $765,000 in debt early.  This decision will save $658,000 in future interest payments.       
     PHASE 2 involves refinancing the remaining $2,185,000 debt at a lower interest rate.  This process began in March 2012.  The debt is now at 2.89%  and will save taxpayers an additional $310,000 in future interest payments.  

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The Core Values by which we operate in the Treasurer's office are:

• Integrity
• Accountability
• Transparency
• Credibility

The finances of the Crestview Local School District are stable, and we continue to operate in a fiscally conservative manner.  Each year the Board of Education sets fiscal goals, which govern our spending and staffing decisions. 

We are undertaking a self-assessment to measure our academic performance and to monitor our business practices.  The self-assessment guide was put together by the Auditor of State's office, and focuses on four major areas:  1) Financial Systems; 2) Human Resources; 3) Facilities; and 4) Pupil Transportation.  Our purpose is to look for ways in which to operate more efficiently and more cost-effectively.

All financial records are open to the public. If you have questions about Crestview's finances or if you would like to inspect records, feel free to contract me during normal business hours.

Tina Bennett, Treasurer

50-Year Anniversary in 2011
2011 marked the 50th anniversary of the merger between Savannah-Clear Creek-Butler Township School and Union School to form what would become the Crestview Local School District.  The district will have celebration activities during the 2011-12 school year.  

E-News!
Financial information is now available to you via e-mail. If you would like to be added to this list, please e-mail the Treasurer at bennett.tina@crestviewschools.net

It's a F.A.C.T.:
The first meeting of the Financial Advisory Committee to the Treasurer (F.A.C.T.) took place in 2005. This independent committee is made up of citizens from the Crestview community who have expertise in financial and business areas. The purpose of the committee is to maximize efficient financialoperations of the school district and keep the lines of communication open with our public. Members of F.A.C.T. meet 3-4 times each year to review the school's financial goals and plans, act as an audit committee, and make recommendations to the Treasurer.

F.A.C.T. members are Scott Amburgey, Tim Bernhard, Brinton Brafford, Angelique Buckingham, Rex Linkenbach, Dianne McMahon, Pam Stimpert, Greg Trent, Keith Vipperman, and Mike Volz.

If you have an interest in serving on F.A.C.T., please send a resume to the Treasurer's office.

Upcoming Board of Education Meetings:

All Board meetings are open to the public. Regular meetings are normally scheduled the third Monday of each month at 6:00 p.m. From time to time, the Board also schedules special meetings.

Crestview's Board members:
Larry Messmore, President
Bill Bolin, Vice-President
Ducia Hamm
Rebecca Hergatt
Jamie McGraw

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Local Tax Levies:

Did you know that Crestview property owners pay significantly less in school taxes than most area districts? In a recent comparison of effective millage rates of 16 area school districts, Crestview ranked 13th lowest in taxes paid for schools. Taxes in other school districts on a $100,000 home ranged from $1,039 down to $721 per year. That homeowner in Crestview would pay $826 per year.

Crestview property owners pay the lowest school operating millage permitted by Ohio law (20 mills). No new operating millage has been assessed since the last levy that was passed in February 1991.

Thanks goes to Crestview's voters for approving a 2.5 mill Permanent Improvement Levy on the May 2006 ballot. This levy will generate $270,000 per year for the school to purchase buses, textbooks, and computers, and will generate enough funds for preventative maintenance and repairs on the buildings and grounds. Thank you again for your generous support.

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Grants & Donations:

The district would like to thank the following individuals and organizations for their support of Crestview Schools:

And many donors who wish to remain Anonymous...

Your contributions have enhanced the quality of education and life for so many students. Thank you!

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Did You Know...

• The total assessed property valuation of the entire Crestview School District is approximately $118,000,000.
• During 2010-11, the district spent $268,000 on textbooks, instructional materials, and technology.
• The refinancing of the High School construction bonds in 2001 will save taxpayers $190,000 through the year 2014.
• The district generates over 500 checks monthly, and spends on average $1,000,000 per month to operate the school district.
• The school's electric bill averages $18,000 per monthand the natural gas bill is around $16,000 per month.
• Our accounting records contain 80 different funds, 400 revenue accounts, and 1.500 budget accounts.
• The district obtains 70% of annual revenues from state and federal sources.
• The school's total budget for Fiscal Year 2012 is $12.5 million.
• Crestview's buses travel over 220,000 miles each school year and use about $100,000 in fuel.
• The school has an insured valuation of $44,000,000 in buildings, contents, land, and equipment.
• We employee 155 people, plus 100 substitutes each year.
• Crestview's finances are solid and the district establishes fiscal goals each year.

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Current Projects in the Treasurer's Office: 
April / May 2012

• Update Treasurer's Page on website 
• Update 5-year Financial Forecast
• Establish FY13 Building and Dept. budgets
• Finalize FY12 Grant expenditures
• File 1st quarter payroll reports
• Update fixed assets
• Property, liability, fleet insurance renewal
•  

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Five-Year Financial Forecast:

The Board of Education establishes fiscal goals and cost-saving measures each year to provide direction to staff and assist with decision-making during the year. We continually monitor the finances of the district and use a conservative approach in our fiscal decisions.

Crestviewhas balanced its general fund revenues withexpenditures 15 out of the last 17 fiscal years. That's good news! However, in planning for FY13 and beyond, we see that revenues are not keeping pace with expenses, even though the district has cut over $1,000,000 in costs. Our 5-year forecast shows a positive cash balance through 2016, however, our carryover funds will be nearly depleted by that time. The Board is investigating many options to keep the district financially stable.

To view Crestview's 5-Year Financial Forecast go to the Ohio Department of Education's website.

Email any questions you may have to Tina Bennett, Treasurer, at:
bennett.tina@crestviewschools.net

On a personal note ...

During this past year, the Board of Education and administrators have been working on professional development using a book by Sam Parker & Mac Anderson entitled, "212º - The Extra Degree". The premise of the book is that at 211 degrees water is hot. But at 212 degrees water boils--boiling water produces steam and steam can power a locomotive. Providing just a little extra effort, action, and commitment can produce exponential results in our organization.

The book is easy to read and the advice makes a lot of sense. The challenge comes in implementing at least one suggestion for improvement in our daily lives. I have chosen one concept to pursue in my own position; it is "Prune the Diversions". The book says,

• When did you last evaluate the tasks you do every day against what's most important to you?
• When did you last evaluate them against who's most important to you?
• You have goals. You have time. You have energy. Where should it be invested?
• 212º Thought - Removing just two diversions from your life each week eliminates more than 100 distractions a year from what's most important to you.
• 212º Commitment - Prune the diversions. Twice weekly.

To me, the education of Crestview's students is the most important aspect of my position. Ensuring that adequate resources are available for kids to learn is a priority. I am accountable to the students, staff, parents, and community, and I need to ensure other things don't get in the way of that focus. That means I cannot be distracted by other issues that fight for my time and energy. The focus is clear--we must "pursue excellence in education" at Crestview. Our kids are worth it!

Educationally,

Tina Bennett

STAFFING & CONTINUING EDUCATION:
The Crestview Treasurer's office staff consists of Marcia Puster, Assistant to the Treasurer, and myself. Cheryl Zellner, EMIS Coordinator in the central office, also assists with posting receipts and tracking fundraisers.  We effectively oversee thousands of financialtransactions every month. As School Treasurer, I hold a dual purpose--to serve as the fiscal officer for the school district and to serve as a secretary to the Board of Education. Some of the duties for the school treasurer include financialplanning and analysis, paying vendors and staff, forecasting and collecting revenues, overseeing human resource functions, tracking fixed assets, and communicating with the community. School treasurers must hold a valid license issued by the Ohio Dept. of Education. My educational background includes an A.A.B. from North Central State College (Accounting); B.S. in Business Administration (Accounting & School Treasurer) and M.Ed. (School Treasurer) from AshlandUniversity. Continuing education is important to keep up with the ever-changing world of school finance, and I attend several training seminars each year.

Tina Bennett

Last Updated: 4/4/2012 2:40 PM