The books are closed for the 2012-2013 school year and for the fiscal year. Springfield has a $7.7 million cash balance.
Treasurer Chris Adams reported to Board of Education members at the July 16 meeting that the district was in a good place financially.
The books are closed for the 2012-2013 school year and for the fiscal year ending June 30, the district has a $7.7 million cash balance.
"It was a good year,” Adams said. “We are in a cycle where we are accumulating wealth.”
Adams added that the funds will be needed in the future as they cannot expect property owners to continue carrying the burden.
District revenues were down about 4 percent adding up to almost $1 million. Adams said homeowners and commercial property owners have challenged property values, which in turn, caused district revenues to go down making up about half of the $1 million loss in funding.
The better news came when Adams said they expect an increase of about 5 percent from state funding and the district received a refund from workers' compensation in the amount of $60,000. There are no restrictions on how the district can use those dollars.
However, Adams said, “the state will open the flood gates on charter schools."
Business Manager Dan Laskos also had good news when he reported the district's food service ended the year with $75,000 surplus. That amount will be reduced some when the food service pays for new software program that allowed for students and parents to put money on an account and lunch to be paid for by entering a student code. The program was successful for all during the last school year.
An amendment to administrators’ contracts allowing for an attendance bonus was approved with a 4-1 vote.
Dave Hofer casting the lone no vote.
The passage of this agreement matches the agreement with teachers allowing for a bonus of $100 a day for each personal day that is unused as well as $200 for those using three or less sick days.
A bonus for increased scores on the district report card is also in the agreement. It is designed to cut down on the number of sick days and personal days taken by staff members. Also, to keep teachers in the classroom and meeting the needs of the students.
Hofer cast his dissenting vote with the belief that administrators should lead by example without incentives.
"They are leaders should be there anyway," Hofer said.
Board President Neal Hess said this agreement helps to promote the team approach to education.
The board acted on many personnel items that included accepting the resignation of High School Principal, Cynthia Frola.
The board extended one-year contracts to Frola and retired district librarian Dodi Zbuka. Frola will be the principal for the new school building. Zbuka will continue as district librarian. Stauffer said they are both key people in making the transition into the new building. The contracts will save the district about $25,000.
Page 2 of 2 - "It is not about the money we save, but the experience they bring, especially going from two buildings to one and to make that building functional when they come together," said Stauffer.
Also under personnel items Michelle Warner and Shaun Morgan are being reassigned as assistant principals for the new building. Athletic Director Kevin Vaughn will be athletic director and dean of students for grades seven through 12.
The next meeting will be held at 6 p.m. Aug. 20 at Spring Hill Junior High on Lessig Avenue.